What would happen if Tesla decided to sell its Bitcoin? - page 3.

teosanru

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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?

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

But anyways, talking about what would happen here, first of all the market would obviously react in a pretty negative manner, Not only because such a huge amount of bitcoin came out in the market for sale, but also because this will create a negative momentum in the market that such a big supporter and so-called holder of bitcoin has decided to sell it, many retailers will sell their bitcoin, 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.

Fivestar4everMVP

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I personally don't think he will have to sell he's bitcoin stash because he probably bought it at a higher rate compared to what the price of each bitcoin is right now, though not really sure about this.

But even if he bought bitcoin at a lower price (which means he is still in profit) and then decides to sell, then the price of bitcoin will definitely drop like every other time and will still rise up again in a matter of time, so sincerely, there's nothing to be afraid of, bitcoin right now is too independent to depend on any entity or man for its survival.

bitzizzix

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Elon Musk always influences what he tweets and it will have both positive and negative impacts on his goals, but all of that is only for the short term and there will probably be a significant downturn.
and it's because of those who really believe and are also fanatical about Elon Musk and make him panic and don't want to be late with his sale, but for those who have been in the industry for a long time it's actually not very influential because they always believe that bitcoin will continue to grow and develop and also will increase in price without anyone's influence.

The Cryptovator

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I don't think he needs to sell his Bitcoin to manage Twitter acquisition funds since he made a lot of money from Doge. But who knows the reality? We don't know if he's already sold or not, because Bitcoin is showing quite bearish at the moment. That means selling pressure has increased somehow. But as far as I know, he announced he was not going to sell his Bitcoin holdings anyway. If he intended to sell and announce it publicly, then the price would definitely drop more due to FUD.

bittraffic

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He has BTC more than the volume of an exchange, that surely can crash the market especially if he sells them by the market price. But he would regret it if he will not buy it back when the price is already more than affordable for macro investors. They are eager to get their BTC for a lower price especially if it dips down below $10K, Saylor or even Bukele will be glad to use the funds of the government to take a bag of BTC. It would be a party time for Russian oligarchs.

Pomogator

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If Elon sells all his bitcoins, then this will affect the bitcoin rate as a whole quite strongly, but I think not for long. It may take a few weeks for it to normalize. This will be a good opportunity to bribe bitcoins for further sale. This is not negative news, so the market will quickly return the bitcoin rate to its previous rate.

merchantofzeny

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Well it may cause a fall on prices but usually it recovers after the whales have gobbled up the cheap btc. What we should be worried, if ever, is his massive reach, especially now that he's in control of Twitter. It might not be as large an influence as the CCP had but it's still large considering a lot of people follow him. Him dumping btc could cause those people to panic compared if it was some unknown individual/institution who did that. Not to mention he does have fans that usually follow his "suggestions".

macson

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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's undeniable that when Elon sells all the bitcoins Tesla buys, what happens is the bitcoin price will drop drastically ^{(maybe back to $20k)}. Satoshi himself has written that it is the holders who regulate the market price, the more people hold btc, the better the bitcoin price because it will definitely increase market demand.

kryptqnick

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I don't like that Twitter was actually bought by Musk, by the way. I thought that it would play out differently, ensuring that there is no biggest investor and that the company isn't in the hands of one person. I also liked Jack Dorsey more than Musk in terms of his crypto attitude. And Musk really can abuse a lot on Twitter if it becomes his, right? Not like he already doesn't have too much influence there. As for selling BTC, I remember when pulling out of Bitcoin was announced, and it caused a decrease of the price. If something like that happened again, something involving around 1-2 billions of dollars worth of BTC, I'd expect a 15-20% price drop at most. But eventually, it would go back up anyway, so it's not a huge deal.

Wapfika

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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.

Elon is too smart that he can create hype to make the market in his favor. Even many thinks that people lose trust in his tweet or perception in crypto ideas, many individuals who are still not in crypto believes in him and willing to take risk to follow him without guarantee of profit, which sometimes it will only lead to Elons profit. We just need to plan on our own since we can’t control them especially those who we consider whales, we will be affected in what ever moves they do so we just need to plan and be active to save our profit when times like this happens.

Gozie51

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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?

I don't believe anything can happen if Elon musk sell off his bitcoin to add into acquire twitter because he is not going to make bitcoin crash. He is not promoting bitcoin but dogecoin and removing such hodling for twitter purchase will be understable and won't create panic as the public is convinced he needed extra cash which becomes the reason for cashing out his bitcoin to conveniently acquire his hodling in twitter.

YOSHIE

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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?

There is no definite impact, you misjudged Elon Musk, he bought Bitcoin when Bitcoin had reached a new ATH at that time, Bitcoin went up yesterday, not because he bought $$$ billion, in fact he still keeps Bitcoin until now, Bitcoin keeps changing up and down.

Elon sells all Bitcoins, which is definitely no change in the global economy, a clear change for him in terms of 'profit' is clear, for you and me it remains as it is now, changes occur if you buy and keep within a certain period of time, let's say that the current price of Bitcoin is $35,800 maybe if you buy 5-10 Bitcoins and sell in the next 2-3 years it can be at a price of $100,000 who knows, of course you will experience changes automatically.

Remember.
That Elon did something to crypto, never told the public, after he did it, only then did he tell the public, the joke is stale.

ultrloa

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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?

Elon Musk has huge influence in the world and his manipulative technique creates huge effect to the market how much more if he really sell all of his coins. For sure many people will follow him and this will create panic to people who's been bother on after effect of the actions he do. But for sure this will never happen since Elon is smart and he see huge potential on Bitcoins.

Husires

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Excuse me, but it seems that I was not accurate in asking the question, what I meant was to break the four-year price cycle since we have two simple assumptions:

The first is that the price will rise to 100k dollars before the end of this year as a maximum.
The second is that the price will not fall below the levels of 20k dollars, which was the top of the previous session.

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

LogitechMouse

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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.

Selling gradually would be possible until they will sold all of the Bitcoins they're holding.
With regards to the announcement, it might cause further dump after Tesla selling their holdings so in short it will be a double dump. There might be a short term dump after selling and their announcement will cause more dump and it will be a disaster for some investors but an opportunity for some or it might be the other way around. There is also a chance that Tesla selling Bitcoins will have little to no effect towards Bitcoin's price.

If this will happen, it will only have an effect on the short term to mid term but this will not have any effect in the long term since many will buy Bitcoins at a lower price.

Doan9269

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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?

I think this is just because of the name and reputation he had makes it to add sauce to the media interest on what may be the outcome if he sell out his bitcoin, obviously I don't think there will be any much impact in general, we have other whales buying and selling but i think there must be something more bigger than this in other to make any muse on bitcoin price.

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 even believe there might be any tangible difference or impact to whether cause a dump or pump in bitcoin price, why is because haven consider Tesla isn't the only bitcoin whale we have and there has always been a pump in bitcoin whenever a mining reward is giving in half, not only the release of bitcoin by hodlers can make the market shift, we have many wallet account noticed to have huge amount worth of bitcoin but yet their effect isn't felt on the prize speculation.

Charles-Tim

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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.

Announcing it can be a weapon for the fall. Anything can also happen, this is what would probably happen, they will sell and later announce it. 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. Just like we predicted Tesla dumped bitcoin for doge before it even started to accept doge for payment, also it can happen like that in a way to continuing supporting doge to rise in price.

Serco

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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.

short term effect will be very dangerous, it will make market sentiment and faith to bitcoin or crypto market decrease.but for long term i am believe it will become more decentralized and no giant investors or whales controll this market.current price was not elon musk target profits, he will set higher price to double their investment just like tesla long term investment.

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Realistically those 40k BTC owned by his company in case of sale through OTC should have no impact on price, but I have no doubt it would cause panic among loyal followers (or rather fanatics) who react to his every word. This actually proves how intelligent the average investor is when it comes to Bitcoin, because he does not invest based on what he thinks, but based on what some spoiled rich man thinks.

Besides, isn't it hypocritical on the one hand to say that Bitcoin is bad for the environment, and on the other hand to accept it as a desirable investment?

aprilnot

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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.

Topic: What would happen if Tesla decided to sell its Bitcoin? - page 3. (Read 290 times)