What would happen if Tesla decided to sell its Bitcoin?

Renampun

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Quote from: Husires on May 07, 2022, 07:28:50 AM

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What would happen if Elon Musk decided to sell his Bitcoin? What will be its economic impact on the price of Bitcoin?

With Elon's large enough influence, the bitcoin price will definitely be affected quite a lot...

elon musk and the company he controls (Tesla) when they first told everyone they bought bitcoin the bitcoin price went up quite high and it lasted quite a while, then when elon tweeted about bitcoin and the environment the bitcoin price was affected too. the same thing (bitcoin price goes down) will definitely happen if elon and tesla sell all the bitcoins they bought.

bakasabo

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I remember when Elon Musk added Bitcoin in his twitter bio and people gone crazy, started to buy Bitcoin and cause price growth. So far, a lot of people believe, that Tesla belongs Elon Musk, and those Bitcoins Tesla has bought, belong to Elon Musk personally. With such porridge in the head, if Tesla makes just a hint of planning to sell their Bitcoin, Bitcoin price will drop to pre-Elon-hype-price aka Autumn 2022 prices.

Charles-Tim

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Quote from: 19Nov16 on May 09, 2022, 02:24:48 AM

Tesla is a big company that has an analyst team, especially risk management, I'm sure as long as the prospect of cryptocurrencies is still good then they will enter Crypto, even though they can have a big impact but I'm sure if they sell all the bitcoin they save, they will not make great turmoil in Market, because without them Crypto is strong.

Tesla does not have a great impact on bitcoin price than what Elon Musk did by taking to Twitter that Tesla no longer accept bitcoin for payment which crahsed crypto market to an extent including bitcoin which it his focus, but in a way to support doge. So, if the impact was once positive, it later become negative.

Quote from: Alisha-k on May 09, 2022, 09:46:08 AM

If musk decides to sell of all his Bitcoin what will simple happen is FUD will stare so many to sell and we will expect further drop in price. What will happen doesn't really depend on musk selling his coins but how the other investors react to his decision. Musk is more like a crypto influencer and so many depend on him for investment advice

But it would be surprising if the impact won't have such negative effect unlike what happened in the past like I just comment above. What I am thinking of is that the impact won't be significant.

Quote from: Joshapat on May 10, 2022, 10:57:03 PM

Tesla is a newcomer to Crypto, they officially announce investment at Crypto for about a year, if they sell all Bitcoin, of course this is not a problem, maybe in the short term it will make a market correction but in the long run will return to normal because the Bitcoin community is very strong.

Definitely, Tesla is just a company out of many companies that have gotten into buying and holding bitcoin, but which no longer support bitcoin but only doge, definitely no effect in long term because bitcoin can absolutely survive without Tesla and Elon Musk.

Joshapat

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Tesla is a newcomer to Crypto, they officially announce investment at Crypto for about a year, if they sell all Bitcoin, of course this is not a problem, maybe in the short term it will make a market correction but in the long run will return to normal because the Bitcoin community is very strong.

tabas

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It will be the same as where we are right now. Like what has been happening to the market lately is somehow correlated to some whales shorting a lot of bitcoins to sustain whatever they have in plans for their main projects.
The same thing could be with Tesla shorting bitcoin, the market will quickly react on it and we'll go back in capitulation and those that have been waiting for cheaper bitcoins, they'll come and take those.

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Quote from: Freeesta on May 08, 2022, 01:09:55 PM

Big events always produce the effect of an exploding bomb. This is just such a case. I think that at first there will be uncertainty with the bitcoin rate. But after a while everything will calm down. Elon Musk is a big figure in the world, but not the only player. I don't think one person can change the course of world events. All games come to an end, our game will not be exception to the rule.

I don’t think that Tesla would have any plans of selling their Bitcoin, because this is just a tiny part of the whole assets that they own. So, Bitcoin would be the least thing that they would like to take away from their possession. They can sell from other things, but not really bitcoin, because they know for sure that Bitcoin is a really good asset that would be worth it in the years to come, and the value would keep on increasing, which they know for sure, and with that amount that they have invested,they’re more likely to be in a position where they would be making a huge profit from it.

Sithara007

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What if they go for more Bitcoin purchases at this time? I regard Elon Musk as one of the most intelligent individuals on this planet. He is the richest person in this planet, because he used his intelligence to make money from various investments. So at this point, Bitcoin represents an easy option for him to get anywhere from 10x to 100x returns. I would like Tesla to invest a few billion USD in BTC at this point, as Bitcoin is all set to dip below the 30K level. Just hoping that he (Musk) will prefer Bitcoin over the shitcoins.

Wakate

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If Elon decided to close the crypto market with his Bitcoin holdings, the market is going to fall massively and it will take enough time before things will get back to normal. He has the influence to do that and I don't think he is ready to do that. He has the money, the power, the influence to do whatsoever he like.

The crypto market is gaining momentum from manipulators that always turn the market to their favour in order to make one or two earnings. The market is going down and it is not the first time, we are already used to it.

stomachgrowls

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Quote from: molsewid on May 09, 2022, 10:14:53 AM

Quote from: 19Nov16 on May 09, 2022, 02:24:48 AM

Tesla is a big company that has an analyst team, especially risk management, I'm sure as long as the prospect of cryptocurrencies is still good then they will enter Crypto, even though they can have a big impact but I'm sure if they sell all the bitcoin they save, they will not make great turmoil in Market, because without them Crypto is strong.

Market price will go down for a little bit and small span of time if he will decide to sell his bitcoins , but Elon is not only the people in this world who holds bitcoin, if he will dump his bitcoin many large companies will decide to buy what he has already sold, whales will took this as an opportunity to hoard more, well it depends on the ordinary people like us on what will be our reaction after that.

We dont even know if they had done it already on where they had sold out their coins or not but considering on the current price in the market then its safe to presume that they had done it

but its true that this isnt something the first time on seeing this market where huge sell offs could really happen and these declines arent something new to see on this market.In
terms of selling decisions then there's nothing we could do, since its their money or asset so they do have the full rights on what they should gonna do with it.
If they do decide to sell so let them be.

molsewid

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Quote from: 19Nov16 on May 09, 2022, 02:24:48 AM

Tesla is a big company that has an analyst team, especially risk management, I'm sure as long as the prospect of cryptocurrencies is still good then they will enter Crypto, even though they can have a big impact but I'm sure if they sell all the bitcoin they save, they will not make great turmoil in Market, because without them Crypto is strong.

Market price will go down for a little bit and small span of time if he will decide to sell his bitcoins , but Elon is not only the people in this world who holds bitcoin, if he will dump his bitcoin many large companies will decide to buy what he has already sold, whales will took this as an opportunity to hoard more, well it depends on the ordinary people like us on what will be our reaction after that.

Alisha-k

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If musk decides to sell of all his Bitcoin what will simple happen is FUD will stare so many to sell and we will expect further drop in price. What will happen doesn't really depend on musk selling his coins but how the other investors react to his decision. Musk is more like a crypto influencer and so many depend on him for investment advice

19Nov16

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Tesla is a big company that has an analyst team, especially risk management, I'm sure as long as the prospect of cryptocurrencies is still good then they will enter Crypto, even though they can have a big impact but I'm sure if they sell all the bitcoin they save, they will not make great turmoil in Market, because without them Crypto is strong.

stepwilli

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No way. Elon musk, is the second rich dude in the world. He have two large known business and we don't know maybe he still have other business that are not in the mainstream. With all the income that he earns, there is no need for him to sell his bitcoin holdings to pay jack but we don't even know if he owns bitcoin because he made an argument last time that he didn't like bitcoin the way it meant to be but he surely likes meme coins as they are more lighter.

For this kind of questions, we can look back if what happens in the past when famous personalities and institutions sells their btc hodlings, that should give us an answer and we will know what to expect.

Freeesta

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Big events always produce the effect of an exploding bomb. This is just such a case. I think that at first there will be uncertainty with the bitcoin rate. But after a while everything will calm down. Elon Musk is a big figure in the world, but not the only player. I don't think one person can change the course of world events. All games come to an end, our game will not be exception to the rule.

Jody.Drummer

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This confuses Tesla which holds a fairly large amount of Bitcoin, automatically if Tesla does sell Bitcoin then anyone will know that there will be a dump. But indirectly this also gives us some relief that there is no more price manipulation in the market regarding Bitcoin. Then I thought if, in the end, the endpoint will be stable against Bitcoin why not? we are always ready for a bear market. And we're also used to how Elon Musk plays his part in every tweet that has millions of followers that will now soon be under-trusted.

Similificator

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If by any chance, Elon Musk really does decide to sell the bitcoin holdings of Tesla which I hope will not happen(at least for now that the market is still bleeding and fear is high), it will be disastrous. Specially if they do it fast until they finish selling all of it. That's not the worse case yet though, the scariest scenario would be doing these and going public about it as they sell or after they have already done so(which is more logical). I can already imagine how sharp the drop would be. Still though, BTC may still recover pretty well even if this does happen which may not be immediate of course, but not impossible.
Oh well, I don't think Elon would really do such a thing since it won't be giving him much benefit compared to holding it for longer term. The thing that just bothers me about this is Elon's unpredictability. Ooohh what to think.. haha

Reid

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Quote from: aprilnot on May 07, 2022, 07:51:33 AM

for the short term there will be a big dump. but no long term impact. I don't think they're all stupid, they will sell gradually and announce all of it after they finish selling it. so no one realizes that they have sold their bitcoins. and when the announcement is published there will be a momentary dump.

I do think he did it already. I have not read the SEC file if there is a timeline on when the asset could be moved but if there is a statement that says it can be moved anytime he likes then he might be selling it gradually that's why we are experiencing price dumps with unknown reasons.
It's all just business for him and it will stay that way. I doubt he is the holder type like many forum members here who will keep it long term and wait for the mainstream to accept BTC as a widespread currency. IIRC, he bought at $36k so if it goes $40k again it might just be dumped to take profits.

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Quote from: Lubang Bawah on May 08, 2022, 10:29:22 AM

Many people are worried that if Bitcoin is abandoned by millionaires, then Bitcoin will drop, in my opinion the influence of Tesla with Bitcoin is not significant, there will be many whales who will do anything to make bitcoin pumping again, we still remember that in 2017 many countries were officially war with bitcoin but at that time the price skyrocketed.

No need to worry about what happens to Bitcoin and I'm sure Bitcoin won't be abandoned by millionaires,
indeed at this time the price of Bitcoin continues to decline, even so I am still optimistic that the price will rise again later,
it's not easy to predict right now and it's better to keep a close watch on his movements

Lubang Bawah

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Many people are worried that if Bitcoin is abandoned by millionaires, then Bitcoin will drop, in my opinion the influence of Tesla with Bitcoin is not significant, there will be many whales who will do anything to make bitcoin pumping again, we still remember that in 2017 many countries were officially war with bitcoin but at that time the price skyrocketed.

Sithara007

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It is quite worrying. The Bitcoin exchange rates have gone down by more than 20% during the last few days. Central banks around the world are increasing interest rates and many have warned the public about difficult economic situation ahead. Stock market indices are down, and cryptocurrency prices have gone down even more. Some of the experts are assuring about strong support for Bitcoin at $30,000 per coin level, but in general I am feeling quite a bit skeptical about the next few weeks. The next block reward halving is also almost two years away.. so the supply will remain more or less constant.

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