What would happen if Tesla decided to sell its Bitcoin? - page 2.

nur rochid

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Quote from: kaya11 on May 08, 2022, 07:57:37 AM

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

We all know Elon Musk's acquisition of Twitter, but how to finance the deal is still unknown.
The billionaire sold some shares in Tesla and is trying to obtain loans from some banks.

Quote

Tesla chief executive Elon Musk has sold roughly $8.5bn (£6.8bn) worth of shares in the electric car maker, just days after he agreed to buy Twitter. The sale has led to speculation that it will help to finance his planned $44bn buyout of the social media platform.

Source: https://www.bbc.com/news/business-61255092

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

It will definitely impact the crypto market all in all. He's got some influence we know that already and just a tweet from him of a certain coin will moon it by any chance. I don't for how long, maybe until there will be positive news to Bitcoin and will spark a new Bull.

Of course, if the bitcoins he owns are sold, there will be a decrease in price, the more he sells, the more the price will fall again, but it is only temporary, because he is not the main holder, he just has a large number of bitcoins. it's the same thing if he buys an altcoin and generates fomo then more people will be interested, because with the power of his money he can move the market. on the other hand he has influence on cryptocurrencies

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

We all know Elon Musk's acquisition of Twitter, but how to finance the deal is still unknown.
The billionaire sold some shares in Tesla and is trying to obtain loans from some banks.

I don't know if you know that but he is not buying Twitter all by himself as he got on board other investors as well like Binance, Saudi Prince etc that will invest more than 7 billion dollars so yeah, I wouldn't worry about him financing the deal.

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

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

Price would obviously go down for some time, many people would get a chance to buy bitcoin at discount and eventually it would go up, as always. I honestly don't think that he will get rid off bitcoin, especially not at this price level, and he knows that selling bitcoin would affect his favorite altcoin as well.

Quote from: kaya11 on May 08, 2022, 07:57:37 AM

He's got some influence we know that already and just a tweet from him of a certain coin will moon it by any chance.

Maybe that was the case year ago, but he doesn't have so much power anymore. Unless we are talking about some obscure shitcoin with low mcap that is very easy to manipulate.

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

We all know Elon Musk's acquisition of Twitter, but how to finance the deal is still unknown.
The billionaire sold some shares in Tesla and is trying to obtain loans from some banks.

Quote

Tesla chief executive Elon Musk has sold roughly $8.5bn (£6.8bn) worth of shares in the electric car maker, just days after he agreed to buy Twitter. The sale has led to speculation that it will help to finance his planned $44bn buyout of the social media platform.

Source: https://www.bbc.com/news/business-61255092

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

It will definitely impact the crypto market all in all. He's got some influence we know that already and just a tweet from him of a certain coin will moon it by any chance. I don't for how long, maybe until there will be positive news to Bitcoin and will spark a new Bull.

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There is very minimal chance of Elon Musk selling his bitcoin holdings. Being an influencer in the cryptospace, his activities associated with cryptocurrency will surely make some changes in the market. These changes in the markets will be there for short term, further the market will return back to its regular growth track. Maybe the news of selling his Tesla shares too a way to manipulate the market. Now users are very clear and doesn't fall for his words.

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I think there will be a sell-off effect and people who rely solely on influences to invest in different financial markets will always take on financial risks. While I also find Elon quite humorous in every way, I admit that his influence is growing and creating negative and positive consequences in the areas that interest him. The future of BTC will again have other influencers join in and cheer to take it to another level, but at the present moment it would be unfounded to think about it, nor should we be too concerned because the economic crisis on a large scale cannot be blamed because this life's coming to a harmonious equilibrium is too far away because today we have been and are dependent on too many things.

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Quote from: Sir Legend on May 07, 2022, 09:32:28 PM

Of course this will make the market shake for a moment, as we know that in 2021 when the price of bitcoin skyrocketed because of the influence of Elon Musk and Tesla who massively bought bitcoin, and the market was very positive, now if they leave cryptocurrencies maybe we will return to 2018 when the market drop more than 70% compared to ATH position.

For sure it would create some fud and indeed a shake off in the market on which it's pretty normal to have and something very common to happen but we know that recovery is really always next in line no matter what happens in the market.

They can sell all they want or like but we know that market isn't really just moving for or on one person or institution.Supply does really able to circulate well which manipulation might be possible but won't really be giving permanent impact on the market.

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Quote from: Nivia1st on May 08, 2022, 06:58:08 AM

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

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

the market crashes and dumps for a long time. without Elon selling all his bitcoins the market is already in a bad state. and if he decided to sell it, things would get worse. it is possible that bitcoin will fall below 30k, and that will render the altcoin worthless. there will be a lot of terrible things happen if they come true.

The price of bitcoin is down he won't consider that now and if he do only fear can cause other hodlers to sell there coins if musk decide to sell for needing money to buy twitter. Now I think that he is trying to have a plan with binance CEO to set up money for the purpose and purchase of twitter. If this succeed to happen he don't have to sell his bitcoin and the price is low, selling is not profit for him.

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

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

the market crashes and dumps for a long time. without Elon selling all his bitcoins the market is already in a bad state. and if he decided to sell it, things would get worse. it is possible that bitcoin will fall below 30k, and that will render the altcoin worthless. there will be a lot of terrible things happen if they come true.

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Quote from: The Cryptovator on May 07, 2022, 12:49:07 PM

I don't think he needs to sell his Bitcoin to manage Twitter acquisition funds since he made a lot of money from Doge.

I do not know where you got information that Elon Musk owns a lot of Dogecoin, I tried to search and did not find a reliable source that talks about how much of that coin he owns.

According Gfinity Esports them URL https://www.gfinityesports.com : As of June 2021, Elon Musk wallet in question holds over 2,500,000 DOGE Today Dogecoin price equal to 315325.12 USD which is less than 1M USD.

Can someone buy a platform like Twitter for $44 billion to support his wallet that has less than $1 million?

Theories linking this deal and the cryptocurrency are weak.

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There are a lot of people on the "demand" side that cannot wait for Musk to dump those coins, because it will push the Bitcoin price down and then they can buy coins at a lower price. The Silkroad coins was more or less the same amount and it did not crash the price at the time... that said, the buyers did not dump the coins after it was bought.

In 2014 Tim Draper Paid $19 Million For 30,000 Bitcoins Confiscated From Silk Road at a price of $633.33 per coin.... and I can promise you.. he laughed all the way to the Bank. (The same thing will probably happen to the Tesla/Musk coins) Wink

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Quote from: serjent05 on May 07, 2022, 03:43:43 PM

If Tesla purposely dumps their BTC holdings, there will be a short-term crash on the market, the crash can possibly get longer if Elon uses Media to FUD the BTC market.

There can be crash, the market price of bitcoin could fall and definitely almost all other cryptocurrencies, but I am definitely certain that it would be short term, it is not going to last and the market will rise just like when Elon Musk says Tesla no longer accept bitcoin. The crash would also never be like that time, it would be milder this time, no matter how Elon Musk is try to manipulate the market.

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Quote from: Charles-Tim on May 07, 2022, 07:50:14 AM

I think Elon Musk influence, especially on bitcoin has reduced. Even, if he sell his worth of billion dollar bitcoin, the market may fall fall, but it will get back to normal.

His propaganda when Tesla stopped accepting bitcoin as a legal tender (and later accepted doge to dump bitcoin) made bitcoin price to fall from over $60000 to around $45000 or $46000. Can there be any worse than that?

Even it wasn't long after Elon Musk propaganda that China finally ban bitcoin and bitcoin mining that made bitcoin price to drop from around $45000 to $30000. But, yet, another bull run started that skyrocketed bitcoin price to all-time-high of almost $70000.

So, yet bitcoin is still bitcoin. Bitcoin price does not depend on a single man, especially, not Elon Musk.

Elon's influence has decreased because his tweets are only intended to manipulate the market and people have realized that. But Tesla is the 3rd largest bitcoin holding company in the world about 43,200 BTC, if they announce to sell all of their bitcoin holdings then I think it will cause a serious drop in the market.

Although we know that bitcoin does not depend on any company or individual, selling large amount of bitcoin to market will cause market panic causing mass sell-off. And bitcoin will take a long time to recover, we should hope that won't happen.

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Of course this will make the market shake for a moment, as we know that in 2021 when the price of bitcoin skyrocketed because of the influence of Elon Musk and Tesla who massively bought bitcoin, and the market was very positive, now if they leave cryptocurrencies maybe we will return to 2018 when the market drop more than 70% compared to ATH position.

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Being a decentralized asset, ideally the exchange rate of Bitcoin should not get impacted by any such selling event in the long term. IMO, the decision from Tesla to invest in Bitcoin caused more harm than good so far. Initially, there was a spike in the exchange rates, and it lasted less than a month before Elon made some negative comments against Bitcoin. And after that, the focus shifted to carbon footprint of Bitcoin and it's energy usage. Now there is added pressure on Bitcoin miners (who are reeling from low prices) to use renewable energy.

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

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

Nothing than what we have seen before in the market when Steve Wozniak sold his Bitcoin holding and the last time i checked the Bitcoin market ought to experience some market correction but it is the level of the institutional investor enthusiasm in Bitcoin that's preventing it from happening.

Quote from: Charles-Tim on May 07, 2022, 07:50:14 AM

I think Elon Musk influence, especially on bitcoin has reduced.

Not only on Bitcoin his influence level when he tweeted about Dogecoin is not as powerful as before and this is expected because he can't feed people with garbage every time and still expect them to trust in him.

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Quote from: Charles-Tim on May 07, 2022, 08:38:28 AM

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

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.

But I only see a reason why Elon Musk would want to do this, to either make the market to dump and to support Doge.

Or intentionally crash the market and buy on its dip getting more BTC along the way.

If Tesla purposely dumps their BTC holdings, there will be a short-term crash on the market, the crash can possibly get longer if Elon uses Media to FUD the BTC market.

Quote from: teosanru on May 07, 2022, 02:46:55 PM

If you want to imagine something wild, why don't you think what if Microstrategy sells it's bitcoin altogether Grin

If that happens the BTC market dump would be a treat to those who are looking for a window to get in. I bet it would be a feast Grin

.

Quote from: teosanru on May 07, 2022, 02:46:55 PM

But anyways, talking about what would happen here, first of all the market would obviously react in a pretty negative manner,

That is given, a sudden influx in supply can greatly affect the price in the market negatively.

Quote from: teosanru on May 07, 2022, 02:46:55 PM

many retailers will sell their bitcoin,

or these retailers might find it a great sale to buy BTC.

Quote from: teosanru on May 07, 2022, 02:46:55 PM

but what would eventually happen is whales will look at this time as buy time and they will buy truckloads of bitcoin and then wait for another bull season.

I think minnows and algae would see this as an opportunity to book a possible profit. Only weak hands will be swayed to sell their holdings. Believer and supporters will see this as an opportunity to bag more BTC.

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Just like the primary machinery that drives and effects the price of BTC, if Tesla decided to sell its entire BTC holdings then its price would fall on the market.

Given that there are lots of BTCs being stored by Tesla, the liquidation of such would result to an increase of supply in the market thereby reducing its general price. Though this may happen, its price would somehow stabilize in the following weeks given that the nature of BTCs are inflationary. Its price is bound to increase in the following years given its 21 million capped supply.

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

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

From what i understand, Elon Musk sold billions worth of BTCitcoin last year itself and we did not see any major correction like the hype you think he is having. He recently purchased Twitter for a whooping $44 billion and it is normal that he will be looking for funds and i have no clue how much he is holding in cryptocurrency but i wont be surprised if he sells all his cryptocurrency right now Cheesy

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Quote from: Husires on May 07, 2022, 09:10:32 AM

If Tesla or MicroStrategy sells, will we go back to levels below 20K?

no. because even if they sell it, I'm sure they don't want that to happen. when institutional investors sell their assets they have a plan so there is no dump. and vice versa when they want to buy, they will not want to buy at high prices. so if these two giants sell bitcoins, the bitcoin price won't fall very deeply.

does it have an impact? certainly. but the effect is not too bad.

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Depends how the BTC is transferred. Its held by a company not a person so it could be passed onto another company or it might be sold into market all at once which means excessive supply and a poor price realized for that BTC sold, unlikely to happen. The Mt.Gox disposal of BTC is probably most similar, a large amount sold over time into higher volume periods.

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