Having the power and the voice of someone who is the number #1 guy in the world (in terms of riches and net worth), it's going to hear some banging. His words are powerful. That's why some government agencies want to regulate and prevent this manipulation. He can manage to get some money quickly with one tweet etc. He is that strong.
With the current news, I think it can be a requirement for them to do that, and they probably need to sell some assets to save themselves the hassle or something. Or maybe it's another influential move.
Topic: Surprisingly, Elon's Tesla is not so keen on hodling BTC anymore - page 6. (Read 814 times)
It's nothing that weird, if we remove the fact that Elon/Tesla had a huge amount of coins, it's just a matter of an investor cutting his losses, especially if we consider how his (public) opinion has been pretty negative in the past months. He may convert again later on but I doubt he'd be able to bring that much hype compared to the first time he did it. I also wouldn't put it much past him not entering Bitcoin again when the market recovers, as I said, he's an investor/Businessman. If he sees the market as profitable again, then he'd probably come back.
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.
Haven't you be expecting this for long? Though it was longer than I was expecting.
Elon Musk only has ambition to support doge. He bought bitcoin, he let Tesla to accept bitcoin. People were thinking he is bitcoin enthusiast but not. He later let Tesla not to accept bitcoin, all his plans from the beginning before Tesla was even accepting bitcoin, he just want people to know more about doge.
Musk later let Tesla accept doge, not only the coin using less power for miner, but just his favourite and manipulation. We all know that Elon Musk is not after another thing than doge.
Instead to hold bitcoin for long, he sold now. But I know he will be planing to manipulate the market again in another massive bull market.
I was expecting this, not a surprise for me.
Elon Musk only has ambition to support doge. He bought bitcoin, he let Tesla to accept bitcoin. People were thinking he is bitcoin enthusiast but not. He later let Tesla not to accept bitcoin, all his plans from the beginning before Tesla was even accepting bitcoin, he just want people to know more about doge.
Musk later let Tesla accept doge, not only the coin using less power for miner, but just his favourite and manipulation. We all know that Elon Musk is not after another thing than doge.
Instead to hold bitcoin for long, he sold now. But I know he will be planing to manipulate the market again in another massive bull market.
I was expecting this, not a surprise for me.
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/
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/
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