Surprisingly, Elon's Tesla is not so keen on hodling BTC anymore - page 4.

livingfree

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Quote from: Lanatsa on July 21, 2022, 06:59:30 PM

Quote from: livingfree on July 21, 2022, 06:33:44 PM

Quote from: coupable on July 21, 2022, 06:08:37 PM

Apparently, Mr. Elon Musk would like to get rid of everything that links him to the crypto field. He has given up Twitter, which was generating a lot of money on him due to his supportive tweets for the Dodge currency, and he is selling all his Bitcoin savings at a very low price compared to the best levels he reached recently.

He also likes to troll the internet. Although there are serious topics that he's joining this guy is the richest. He can do everything he can and things that are simple for him and his Tesla company is already extraordinary for commoners like me.

And that's why these media are taking advantage and raking money on it by making it as news that shocks the world. I don't know if it still shocks us to know what this guy is. But by the looks of a no-coiner, this is shocking to them and is going to mock us that are still holding.

They do have the finances, the money/riches, the reputation, the popularity and the power which simply means that they could all the things that they do like or whats up into their minds and mocking might not be that
right to make out some assumptions but who knows that he might be just smiling and laughing on his mind which seeing things around that he had been playing on. Cheesy

Market is composed of different industries and as a billionaire where you would normally be diving on things which you know that you could really benefit from which crypto space isnt an exemption
and now he had made out some purchases back in the past and now making some sell-off? its his full rights but people are really that serious on whining and crying on what he had done.

I've seen some argument that told that it's not him that sold but it's the company. Well, I've thought to realize that they're right but eventually, I've also realized that he owns it.

He got dictatorship on those companies that he owns.

If they've got stocks of bitcoin, they can sell it at their will or even Elon's since he's the one who owns it.

Haunebu

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Elon Musk is easily one of the most fickle characters that I have observed over time. If he could plan on purchasing Twitter and back out later on, supporting BTC and withdrawing his support later on isn't a big deal at all in comparison.

He isn't a good person with a black heart based on everything that I have heard about him, but he is a genius when it comes to business which is why I don't think he took these decisions on a whim.

Fact is that he simply manipulates the cryptocurrency market for his own gains now and then.

naira

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Quote from: Sithara007 on July 21, 2022, 10:32:26 PM

Quote from: Argoo on July 21, 2022, 10:12:49 PM

I just don't see the point of Elon Musk's Tesla selling 75 percent of its bitcoins for such a low price of $29,000 when those bitcoins were purchased at a much higher price earlier. These are hundreds of millions of dollars in losses. Does Elon Musk no longer believe that the price of bitcoin will rise much higher over time? Or did he urgently need large sums of money? I don’t think that the company’s financial affairs are so bad that the only way out was to sell bitcoins. I would like to hear his comments on the bitcoin sale.

Elon probably doesn't care. Tesla shareholders need to pick up the bill. Although Elon Musk is the biggest shareholder, he owns only around 17% of the total shares. Even if we assume that the loss from this sale is in hundreds of millions of USD, given his net wealth ($253 billion), it is a minuscule amount for him. He has been making statement against Bitcoin on a regular basis for the last one year or so, and to be frank I was expecting this step sooner or later. His statement was interesting. He claimed that Tesla sold 75% of its BTC, but it hasn't sold any of the DOGE. Once again, it looks to me that he wants to pump the DOGE shitcoin at the expense of BTC. Not going to work.

Sounds reasonable because until now he has not made another tweet about this Shitcoin Doge. So it's not surprising to see how he plays the market cycle and tries to make people worry about his holdings. Elon Musk is a businessman and the concept of a businessman must be able to know the market situation very carefully.

Sithara007

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Quote from: Argoo on July 21, 2022, 10:12:49 PM

I just don't see the point of Elon Musk's Tesla selling 75 percent of its bitcoins for such a low price of $29,000 when those bitcoins were purchased at a much higher price earlier. These are hundreds of millions of dollars in losses. Does Elon Musk no longer believe that the price of bitcoin will rise much higher over time? Or did he urgently need large sums of money? I don’t think that the company’s financial affairs are so bad that the only way out was to sell bitcoins. I would like to hear his comments on the bitcoin sale.

Elon probably doesn't care. Tesla shareholders need to pick up the bill. Although Elon Musk is the biggest shareholder, he owns only around 17% of the total shares. Even if we assume that the loss from this sale is in hundreds of millions of USD, given his net wealth ($253 billion), it is a minuscule amount for him. He has been making statement against Bitcoin on a regular basis for the last one year or so, and to be frank I was expecting this step sooner or later. His statement was interesting. He claimed that Tesla sold 75% of its BTC, but it hasn't sold any of the DOGE. Once again, it looks to me that he wants to pump the DOGE shitcoin at the expense of BTC. Not going to work.

Argoo

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Quote from: naira on July 21, 2022, 07:17:03 PM

If the decline has to be sharp first because of the sale of 75% of Testa's ownership, then why not? we prefer Bitcoin split in the hands of small traders or investors who still believe in Bitcoin. Companies like Tesla can do whatever they want to sell whenever they want without needing to make a statement in the media. How about Tesla loudly announcing that he has sold 75% of his Bitcoins? Isn't this a game? imagine Elon now in the long case about Twitter, and Tesla selling Bitcoin. It could be that all have a connection that Elon's finances are at stake. Being exposed to liquidity on a loan doesn't mean it's impossible.

I just don't see the point of Elon Musk's Tesla selling 75 percent of its bitcoins for such a low price of $29,000 when those bitcoins were purchased at a much higher price earlier. These are hundreds of millions of dollars in losses. Does Elon Musk no longer believe that the price of bitcoin will rise much higher over time? Or did he urgently need large sums of money? I don’t think that the company’s financial affairs are so bad that the only way out was to sell bitcoins. I would like to hear his comments on the bitcoin sale.

Zlantann

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Another media war. Why the announcement and publicity. Many companies have sold their Bitcoin without announcing it to the whole world. This action is a clear indication that Elon Musk backed Telsa is playing a secret game to undo Bitcoin. He might be working for the government of the United States or other unfriendly countries in order to get a favorable consideration for his car and space businesses. Elon Musk is becoming so powerful because he is partially controlling a share of the world economic and social media space. That is why Bitcoin must continue to build its own reputation and prestige that would give it freedom from the effect of these personality hype and blackmail.

AmoreJaz

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Quote from: Oceat on July 21, 2022, 07:58:20 PM

Quote from: TelolettOm on July 21, 2022, 07:13:23 PM

Didn't Elon and Tesla often make fickle statements? Sometimes they support certain things, but sometimes Elon makes statements that actually make noise and affect the price of BItcoin to go down and up. Of course, I believe that statement has a meaning in it. We'll see later what they mean by this statement. And can they still have a strong influence on the crypto world?
If BItcoin again drops so much, it means that whales can buy more Bitcoin with very low prices, doesn't it? Grin

I guess this is where they start their mind games like controlling the media to show what they wanna show but in reality they were all behind of that hype and fud just to control the market.

we don't know the ultimate truth here as we are just basing on what they are disclosing to the public. who knows, while they are telling that they are selling, they are also buying but in discreet manner? we can't trust what they are giving to the public. they can take care of their own business, so you should also take care of your own.

Oceat

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Quote from: TelolettOm on July 21, 2022, 07:13:23 PM

Didn't Elon and Tesla often make fickle statements? Sometimes they support certain things, but sometimes Elon makes statements that actually make noise and affect the price of BItcoin to go down and up. Of course, I believe that statement has a meaning in it. We'll see later what they mean by this statement. And can they still have a strong influence on the crypto world?
If BItcoin again drops so much, it means that whales can buy more Bitcoin with very low prices, doesn't it? Grin

I guess this is where they start their mind games like controlling the media to show what they wanna show but in reality they were all behind of that hype and fud just to control the market. I will wait and see if something is going to happen in the market then that's the answer and I'm sure there's a news that would come out soon after that massive movement in the market. And since Elon Musk is involved again then his name prolly gonna pop up and linked to a few more news.

naira

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If the decline has to be sharp first because of the sale of 75% of Testa's ownership, then why not? we prefer Bitcoin split in the hands of small traders or investors who still believe in Bitcoin. Companies like Tesla can do whatever they want to sell whenever they want without needing to make a statement in the media. How about Tesla loudly announcing that he has sold 75% of his Bitcoins? Isn't this a game? imagine Elon now in the long case about Twitter, and Tesla selling Bitcoin. It could be that all have a connection that Elon's finances are at stake. Being exposed to liquidity on a loan doesn't mean it's impossible.

TelolettOm

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Didn't Elon and Tesla often make fickle statements? Sometimes they support certain things, but sometimes Elon makes statements that actually make noise and affect the price of BItcoin to go down and up. Of course, I believe that statement has a meaning in it. We'll see later what they mean by this statement. And can they still have a strong influence on the crypto world?
If BItcoin again drops so much, it means that whales can buy more Bitcoin with very low prices, doesn't it? Grin

Lanatsa

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Quote from: livingfree on July 21, 2022, 06:33:44 PM

Quote from: coupable on July 21, 2022, 06:08:37 PM

Apparently, Mr. Elon Musk would like to get rid of everything that links him to the crypto field. He has given up Twitter, which was generating a lot of money on him due to his supportive tweets for the Dodge currency, and he is selling all his Bitcoin savings at a very low price compared to the best levels he reached recently.

He also likes to troll the internet. Although there are serious topics that he's joining this guy is the richest. He can do everything he can and things that are simple for him and his Tesla company is already extraordinary for commoners like me.

And that's why these media are taking advantage and raking money on it by making it as news that shocks the world. I don't know if it still shocks us to know what this guy is. But by the looks of a no-coiner, this is shocking to them and is going to mock us that are still holding.

They do have the finances, the money/riches, the reputation, the popularity and the power which simply means that they could all the things that they do like or whats up into their minds and mocking might not be that
right to make out some assumptions but who knows that he might be just smiling and laughing on his mind which seeing things around that he had been playing on. Cheesy

Market is composed of different industries and as a billionaire where you would normally be diving on things which you know that you could really benefit from which crypto space isnt an exemption
and now he had made out some purchases back in the past and now making some sell-off? its his full rights but people are really that serious on whining and crying on what he had done.

HeavensPro

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Musk is a genius of marketing and hype. Investment in crypto was also the way to seem like "we are the future" but obviously it wasn't a long-term plan. Just fast advertisement as I think

livingfree

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Quote from: coupable on July 21, 2022, 06:08:37 PM

Apparently, Mr. Elon Musk would like to get rid of everything that links him to the crypto field. He has given up Twitter, which was generating a lot of money on him due to his supportive tweets for the Dodge currency, and he is selling all his Bitcoin savings at a very low price compared to the best levels he reached recently.

He also likes to troll the internet. Although there are serious topics that he's joining this guy is the richest. He can do everything he can and things that are simple for him and his Tesla company is already extraordinary for commoners like me.

And that's why these media are taking advantage and raking money on it by making it as news that shocks the world. I don't know if it still shocks us to know what this guy is. But by the looks of a no-coiner, this is shocking to them and is going to mock us that are still holding.

Furious 7

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What's weird there, apart from taking it off now maybe in that case it's obvious he's also waiting for a lot of people to follow suit and take it back at a cheaper price, isn't that what he's always been doing.
I think he will still be the same as before because with the money he has he can freely take it off or take it back as he wants.

coupable

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Apparently, Mr. Elon Musk would like to get rid of everything that links him to the crypto field. He has given up Twitter, which was generating a lot of money on him due to his supportive tweets for the Dodge currency, and he is selling all his Bitcoin savings at a very low price compared to the best levels he reached recently.

coolcoinz

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Quote from: Baofeng on July 20, 2022, 07:13:56 PM

Pretty easy decision for him and I think maybe some of us had so this coming. Obviously, it has something to do with the current state of the market and maybe he knows that he is going to lose money short term. So as a businessman, he has to shift and keep moving his money around so that it will still grow despite the current recession that we are having. So I'm not surprised, but I don't think this is an attack to bitcoin coming from him, just a business move, in my opinion.

A shady business move to say the least. He praised it and then he criticized it. You'd expect him to do some research before investing, right? Of course he had to do it. He knew what he was buying. Attacking it and the community after dumping everything was a punch below waist.

If these companies want to buy, I have nothing against it. If they want to sell, same, but when they start to influence the price via social media it's a different story.

justdimin

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Quote from: Majestic-milf on July 20, 2022, 07:03:08 PM

Its believed that the steep decline in BTC price was what fuelled the rush to sell off.

There is no steep decline but there's only a steep rise which happened lately and maybe that causes for them to sell a good number of bitcoins because a recovery like this is now getting rare and maybe after this the price can fall again and will remain that way for some months.

Quote from: Majestic-milf on July 20, 2022, 07:03:08 PM

What do we make of this move? Is there a plan to bounce back when the market becomes favorable, or is the beginning of the end for Elon and crypto?

Make? Or you mean to so say think? If that is well I think this move is beneficial for them because they are the ones that gains a profit while it is not beneficial for us that want's btc to rise more because the price can fell down again at any moment but yes there always a chance for the price to bounce back. I don't think this was the end for them but this rather can be a start because they will buy back again once the effect takes place.

harapan

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Quote from: be.open on July 21, 2022, 03:52:28 PM

There is something wrong in the world if the richest person is just a flamboyant Twitter clown.

They are simply nothing since they do not affect the market negatively I mean the Bitcoin market. Since he sold the coins, has it altered the Bitcoin price in any way. The answer is a no, so why really should a Bitcoiner care over less and what's not important.
He has a big impact on the internet in these generation but are not used to promote Bitcoin. And if he's company are no longer interested in having or holding Bitcoin then it's good to worry less and stop focusing on such news and stories.

tabas

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His company isn't one of those that are keen in holding for long term. They're not like the companies of Michael Saylor and the other ones that have always been reported buying bitcoin during the dip. They're long term investors/players in the market and that's why it's not a surprise to see Tesla sold 75% of its holding long ago before the dump has came to the market. They're on profit and there's no reason for them to ignore that chance of not making money, it's close to a billion dollars profit.

milewilda

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Quote from: Fortify on July 21, 2022, 03:56:32 PM

Quote from: Majestic-milf on July 20, 2022, 07:03:08 PM

With the crypto winter and BTC prices looking bearish, Tesla CEO and Space X founder, Elon Musk has shipped off 75% of his shares in Bitcoin. This news comes as a surprise after his proclamation in March where he was adamant on selling his coins.
Tesla had about 42,000 bitcoins at the start of Q2 but had to sell off the majority of its coins at $29,000
From the 2nd quarter report gathered by the company, it was revealed that the coins were sold for $963m and still has a reserve " digital asset" left of about $218m should he see the need to sell off.
In February last year, Tesla purchased a whooping $1.5m worth of crypto and this move helped to push the value of BTC and enthusiasts labeled him the de facto "crypto leader" but that status quickly changed the moment he renounced the acceptance of BTC as payment for his goods.

Its believed that the steep decline in BTC price was what fuelled the rush to sell off. What do we make of this move? Is there a plan to bounce back when the market becomes favorable, or is the beginning of the end for Elon and crypto? https://techcrunch.com/2022/07/20/tesla-dumped-75-of-its-bitcoin-holdings/

It should be a surprise to nobody, just last year he claimed that Tesla was going to hold on to Bitcoin but it appears to have lost all nerve with the recent price declines and just wanted to cash out. No doubt Elon has got bored of playing with cryptocurrency, especially since his legal tussle with Twitter going on which is the very platform that he spams all his junk. Ironically the price of Bitcoin seems to have bottomed out and is slowly grinding it's way back up, so clearly other people are moving in to pick up what Tesla has chosen to offload. People are starting to see through the shroud of bullshit that Elon is constantly peddling for his own benefit and starting to ignore him a bit more.

What would you expect for a billionaire to do and into its business? Neither he would decide to hold or would sell off his bags if he cant able to bare the risk or doesnt really like volatility or movement of
crypto or simply he had just decided to be silent despite of accumulating even more coins.Who knows right? no one will ever know on what are the things that running into his mind.
Its his money and business then it would really be none of our business on taking up decisions on what he should do. LOL! But it is indeed true that after all the manipulative
acts that he had done in the past then its just normal that people is really getting tired of it and doesnt really care on what he would done next.

Topic: Surprisingly, Elon's Tesla is not so keen on hodling BTC anymore - page 4. (Read 747 times)