NOTE TO GET RICH QUICK DIGITAL CRYPTO MERCHANTS, ELON MUSK HAS SOLD ALL HIS BITCOIN AS IT HAS BEEN CENTRALIZED, MARKETS CRASHING.
BITCOIN DOWN TO 45 K AND STILL HEADING DOWN. !!!
Did Elon Musk Sell His Bitcoin? Tesla Halts Bitcoin Payments
BY ADAM GOODPASTURE
MAY. 13 2021, PUBLISHED 3:03 P.M. ET
Cryptocurrency enthusiasts and investors are all too familiar with Elon Musk’s tweets sending ripples throughout the crypto market. Most notably, the meme cryptocurrency Dogecoin has ridden a rollercoaster of ups and downs that have been fueled in large part by the Tesla Inc. CEO’s musings on Twitter. Dogecoin has largely been a penny currency, so the tweets and memes have been viewed as fun and cute.
https://marketrealist.com/p/did-elon-musk-sell-bitcoin/
However, when Musk tweets about Bitcoin, the largest cryptocurrency by value and market cap, it can create a tsunami that impacts the entire cryptocurrency market. That’s exactly what happened on May 12 when he tweeted that Tesla would be suspending its policy to accept Bitcoin as payments for its electric vehicles.
With such power over market performance, especially in one that’s primarily driven by word of mouth and consumer emotions, Musk is subject to speculation and the reasoning behind the change at Tesla. One question circulating is whether Musk sold his Bitcoin holdings prior to the announcement.
Tesla offloaded a portion of its Bitcoin earlier this year.
During Tesla’s first-quarter earnings report, the company confirmed that the electric vehicle manufacturer sold 10 percent of its Bitcoin holdings. The report showed that the firm had bought more than $1 billion in Bitcoin tokens earlier in 2021 and generated $101 million in income from the sale.