Bitcoin Forum

 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/

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.

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.

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.

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.

I think his motivations are more related to make a good relationship with American government.

He received about 7billions USD from government subsidies, tax breaks and loans. As American government isn't really a bitcoin fan, as they see bitcoin as "bad for enviroment", I believe those are the main Musk motivations.

I do not really think that many people are surprised with what we're seeing, Elon is not really very enthusiastic about this market, meaning that he was only invested in bitcoin because he hoped to make some impressive profits, and now that the market is going through difficult times it is not really surprising that he is not going to hold his coins for long, and if anything I'm a little bit surprised that he has not sold his coins way sooner.

Bad example, then. This cycle became known as the institutional adoption cycle, with Tesla's purchase having the biggest impact on the market. I wonder if there have been more companies that have sold their bitcoins recently without it coming to light as in this case.

It seems that the discourse that it is better to have bitcoin for your reserves than to have cash does not work because of volatility, which can be downward, as has happened this year.

I don’t think it was his idea to sell the coins but most likely the decision of the board. What is going on with the economy right now and how Bitcoin looked like it might break $20K (which it did after they sold) they figured it was best to liquidate their position at close to break even as possible and face as loss.

From what I remember they bought at $30K and sold 10% at $60K. So selling 75% at $29K is more or less break even. They needed to raise cash and with the stock going down due to his share selling and Twitter buying. They decided it was in the best interest.

Eventually he slowly gave up on something (bear market pressure maybe), I expected this. At least a large number of bitcoins are no longer owned by an influencer and hope to be more distributed although for now I'm more convinced that bitcoin is still under the ownership of the p2p company where he cashed the bitcoins.

Musk's actions with bitcoin, dogecoin, and Twitter are perplexing to me--it's as if he's showcasing what would happen if you gave a malicious internet troll billions of dollars and told him to have at it.  But unfortunately there are a lot of people who hang on his ever word.  Just look at all the people who bought dogecoin because he tweeted about it; I've see quite a few YT vids related to that, and I'm sure for every one of those there are a hundred other people who never made it public they bought doge on the Musk hype.

As for what he's doing or is going to do with bitcoin, I say who cares.  He'd be better off if he'd concentrate his time and effort on his space projects, green energy, and whatever real things he's doing that could benefit the world.  I wouldn't even care if he never mentioned crypto again.  He's got enough money and influence and brains that he could actually move humanity forward just a little bit, and I'm not sure why he's playing these stupid games with the media.  Ugh.

I think the reason why he is playing these stupid games with the media is because he loves the spotlight, attention-seeking. Because why else would someone with so much act so manipulatively in a space where he wields so much influence. Not good at all. I agree that Telsa selling off a huge chunk of their bitcoin is purely business related but for Pete's sake can Musk just be silent for a while on any crypto-related subject matter? Bitcoin is going to fine with or without Musk because now most people are more enlightened and can see through his tweets and comments about bitcoin.

Not surprised by the steps he took because this action is almost the same as the steps of everyone who has a lot of bitcoins, namely taking profits, he should even do it when the price is still higher than he sells these bitcoins, especially as an entrepreneur he will be profit-oriented and maybe cash becomes the reason he ended up selling bitcoin.

Frankly, I see his initial interest in Bitcoin as just means to prove that the asset is a viable alternate to fiat, but then why buy such an amount only to ship it off with the lame excuse of energy concerns? I really don't get though. I won't be surprised to read on the news later on that he's gone ahead to purchase times two of what he did in Q1. Such a media King 😏😏😏

The only meme that I recall from this is:

https://humornama.com/wp-content/uploads/2020/11/This-Is-Business-meme-template-of-Osita-Iheme.jpg

We all know how this works in the world of multiple business stream. The guy has to sell when its time to sell and hold when its time hold.
Elon ain't doing any charity here to push the bitcoin to all new levels. All he is doing is making his money multiply or at least try to manipulate the market with his wealth.

You never know, what's on his mind, but as I stated above, "This is Business"

humm, in the end for Musk vs Tesla actions, they get fattened selling 75% of their bitcoin holdings and continue to be the thorn that continues to dominate the ridiculousness from them. I don't think their plan is going well. In fact, I no longer care about Musk's motives :))

I mean, why should he keep silent though. The reason why Tesla doesn't need to spend money on marketing is that Elon Musk himself is giving the company the publicity it needs. Milking all the publicity is simply just the smarter move in a business sense.

Believe me, some folks must have been moved by what Elon musk's did already selling some huge % of Bitcoin. They are too lazed to go about doing some basic check why he sold those coins. He has been a big influence even before purchasing twitter. I still ponder what are the reasons for the sale, could it be that he wants to influence the market negatively ?
Hopefully everyone gets to do their own research and don't sell foolishly from thr influence of their mentor or idol. No matter the amount of Bitcoin he has, he can't hide the fact that he wants 🐕 Doge coins competing. If using Bitcoin makes you a psychopath, then, so be it!

Most questions casual investors have about markets and bitcoin were answered years ago. It has long been known that more than 80% of US stock market trends since the economic crisis of 2008 are attributable to a single demographic. The same can be said of bitcoin's latest decline. Neither Elon Musk nor tesla have the investment liquidity to save crypto in the face of those numbers. Pulling out was their only option.

Elon Musk and many others in tech and science have always been big fans of crypto. The founder of virgin galactic planned to sell tickets to spaceflights in bitcoin. There were discussions on whether bitcoin or another crypto token might be used as a native currency on mars. Apple co founder Steve Wozniak always had many interesting points to make on crypto. Now it seems things are changing. The amount of intelligent and honest commentary available on the internet is diminishing significantly. But I think the underlying sentiment remains the same.

He said Tesla did this to get more cash for these terrible market conditions. When others increase their portfolio size they sell it off. I think this is good for a better future in the crypto space. It will be good to have 1k BTC in 1k people's hands than having all this BTC in a single hand. They will not be able to manipulate the market that much if the coin is distributed widely rather than sitting into a small group of people.

I just heard this on a radio news bulletin this evening. The article states that Teslas production
is down 18% and profits are down too. So yea looks like they were forced to sell Bitcoin rather
than a casual decision and after all why else would a whale like Tesla sell to break even, especially
after HODLing all this time?

I don't understand why people are still concerned with Elon Musk and crypto currency, apart from the degenerate doge coin gamblers that are dependent on Elon Musk tweeting "doge" so they can do a quick sell off on the momentary price increase. Musk has made it clear, he has no intentions on using/promoting Bitcoin because of the environmental impact. It's nonsense.

There is something wrong in the world if the richest person is just a flamboyant Twitter clown.

It should be a surprise to nobody, just last year he claimed that Tesla was going to hold on to Bitcoin but it appears to have lost all nerve with the recent price declines and just wanted to cash out. No doubt Elon has got bored of playing with cryptocurrency, especially since his legal tussle with Twitter going on which is the very platform that he spams all his junk. Ironically the price of Bitcoin seems to have bottomed out and is slowly grinding it's way back up, so clearly other people are moving in to pick up what Tesla has chosen to offload. People are starting to see through the shroud of bullshit that Elon is constantly peddling for his own benefit and starting to ignore him a bit more.

For me the surprise is that they (allegedly) bought high and sold low.
For me the surprise is that they didn't sell in Q4 2021.
For me the surprise is that people cares so much about this.


I'm not sure it was Elon's call. It may have been the Tesla board...(which I expected to be smarter).


Shouldn't this happen about all the personalities? They say what they think it helps them more. They do what they think it helps them more. They don't care about their followers/readers (why would they??)

What would you expect for a billionaire to do and into its business? Neither he would decide to hold or would sell off his bags if he cant able to bare the risk or doesnt really like volatility or movement of
crypto or simply he had just decided to be silent despite of accumulating even more coins.Who knows right? no one will ever know on what are the things that running into his mind.
Its his money and business then it would really be none of our business on taking up decisions on what he should do. LOL! But it is indeed true that after all the manipulative
acts that he had done in the past then its just normal that people is really getting tired of it and doesnt really care on what he would done next.

His company isn't one of those that are keen in holding for long term. They're not like the companies of Michael Saylor and the other ones that have always been reported buying bitcoin during the dip. They're long term investors/players in the market and that's why it's not a surprise to see Tesla sold 75% of its holding long ago before the dump has came to the market. They're on profit and there's no reason for them to ignore that chance of not making money, it's close to a billion dollars profit.

They are simply nothing since they do not affect the market negatively I mean the Bitcoin market. Since he sold the coins, has it altered the Bitcoin price in any way. The answer is a no, so why really should a Bitcoiner care over less and what's not important.
He has a big impact on the internet in these generation but are not used to promote Bitcoin. And if he's company are no longer interested in having or holding Bitcoin then it's good to worry less and stop focusing on such news and stories.

There is no steep decline but there's only a steep rise which happened lately and maybe that causes for them to sell a good number of bitcoins because a recovery like this is now getting rare and maybe after this the price can fall again and will remain that way for some months.

Make? Or you mean to so say think? If that is well I think this move is beneficial for them because they are the ones that gains a profit while it is not beneficial for us that want's btc to rise more because the price can fell down again at any moment but yes there always a chance for the price to bounce back. I don't think this was the end for them but this rather can be a start because they will buy back again once the effect takes place.

A shady business move to say the least. He praised it and then he criticized it. You'd expect him to do some research before investing, right? Of course he had to do it. He knew what he was buying. Attacking it and the community after dumping everything was a punch below waist.

If these companies want to buy, I have nothing against it. If they want to sell, same, but when they start to influence the price via social media it's a different story.

Apparently, Mr. Elon Musk would like to get rid of everything that links him to the crypto field. He has given up Twitter, which was generating a lot of money on him due to his supportive tweets for the Dodge currency, and he is selling all his Bitcoin savings at a very low price compared to the best levels he reached recently.

What's weird there, apart from taking it off now maybe in that case it's obvious he's also waiting for a lot of people to follow suit and take it back at a cheaper price, isn't that what he's always been doing.
I think he will still be the same as before because with the money he has he can freely take it off or take it back as he wants.

He also likes to troll the internet. Although there are serious topics that he's joining this guy is the richest. He can do everything he can and things that are simple for him and his Tesla company is already extraordinary for commoners like me.

And that's why these media are taking advantage and raking money on it by making it as news that shocks the world. I don't know if it still shocks us to know what this guy is. But by the looks of a no-coiner, this is shocking to them and is going to mock us that are still holding.

Musk is a genius of marketing and hype. Investment in crypto was also the way to seem like "we are the future" but obviously it wasn't a long-term plan. Just fast advertisement as I think

They do have the finances, the money/riches, the reputation, the popularity and the power which simply means that they could all the things that they do like or whats up into their minds and mocking might not be that
right to make out some assumptions but who knows that he might be just smiling and laughing on his mind which seeing things around that he had been playing on.  :D

Market is composed of different industries and as a billionaire where you would normally be diving on things which you know that you could really benefit from which crypto space isnt an exemption
and now he had made out some purchases back in the past and now making some sell-off? its his full rights but people are really that serious on whining and crying on what he had done.

Didn't Elon and Tesla often make fickle statements? Sometimes they support certain things, but sometimes Elon makes statements that actually make noise and affect the price of BItcoin to go down and up. Of course, I believe that statement has a meaning in it. We'll see later what they mean by this statement. And can they still have a strong influence on the crypto world?
If BItcoin again drops so much, it means that whales can buy more Bitcoin with very low prices, doesn't it?  ;D

If the decline has to be sharp first because of the sale of 75% of Testa's ownership, then why not? we prefer Bitcoin split in the hands of small traders or investors who still believe in Bitcoin. Companies like Tesla can do whatever they want to sell whenever they want without needing to make a statement in the media. How about Tesla loudly announcing that he has sold 75% of his Bitcoins? Isn't this a game? imagine Elon now in the long case about Twitter, and Tesla selling Bitcoin. It could be that all have a connection that Elon's finances are at stake. Being exposed to liquidity on a loan doesn't mean it's impossible.

I guess this is where they start their mind games like controlling the media to show what they wanna show but in reality they were all behind of that hype and fud just to control the market. I will wait and see if something is going to happen in the market then that's the answer and I'm sure there's a news that would come out soon after that massive movement in the market. And since Elon Musk is involved again then his name prolly gonna pop up and linked to a few more news.

we don't know the ultimate truth here as we are just basing on what they are disclosing to the public. who knows, while they are telling that they are selling, they are also buying but in discreet manner? we can't trust what they are giving to the public. they can take care of their own business, so you should also take care of your own.

Another media war. Why the announcement and publicity. Many companies have sold their Bitcoin without announcing it to the whole world. This action is a clear indication that Elon Musk backed Telsa is playing a secret game to undo Bitcoin. He might be working for the government of the United States or other unfriendly countries in order to get a favorable consideration for his car and space businesses. Elon Musk is becoming so powerful because he is partially controlling a share of the world economic and social media space. That is why Bitcoin must continue to build its own reputation and prestige that would give it freedom from the effect of these personality hype and blackmail.

I just don't see the point of Elon Musk's Tesla selling 75 percent of its bitcoins for such a low price of $29,000 when those bitcoins were purchased at a much higher price earlier. These are hundreds of millions of dollars in losses. Does Elon Musk no longer believe that the price of bitcoin will rise much higher over time? Or did he urgently need large sums of money? I don’t think that the company’s financial affairs are so bad that the only way out was to sell bitcoins. I would like to hear his comments on the bitcoin sale.

Elon probably doesn't care. Tesla shareholders need to pick up the bill. Although Elon Musk is the biggest shareholder, he owns only around 17% of the total shares. Even if we assume that the loss from this sale is in hundreds of millions of USD, given his net wealth ($253 billion), it is a minuscule amount for him. He has been making statement against Bitcoin on a regular basis for the last one year or so, and to be frank I was expecting this step sooner or later. His statement was interesting. He claimed that Tesla sold 75% of its BTC, but it hasn't sold any of the DOGE. Once again, it looks to me that he wants to pump the DOGE shitcoin at the expense of BTC. Not going to work.

Sounds reasonable because until now he has not made another tweet about this Shitcoin Doge. So it's not surprising to see how he plays the market cycle and tries to make people worry about his holdings. Elon Musk is a businessman and the concept of a businessman must be able to know the market situation very carefully.

Elon Musk is easily one of the most fickle characters that I have observed over time. If he could plan on purchasing Twitter and back out later on, supporting BTC and withdrawing his support later on isn't a big deal at all in comparison.

He isn't a good person with a black heart based on everything that I have heard about him, but he is a genius when it comes to business which is why I don't think he took these decisions on a whim.

Fact is that he simply manipulates the cryptocurrency market for his own gains now and then.

I've seen some argument that told that it's not him that sold but it's the company. Well, I've thought to realize that they're right but eventually, I've also realized that he owns it.

He got dictatorship on those companies that he owns.

If they've got stocks of bitcoin, they can sell it at their will or even Elon's since he's the one who owns it.

Elon Musk is a man with ambitions and big brain and balls. I think he gets huge dopamine rush by manipulating things the way he wants. How would you feel when you have the power to tweet any craziness and millions of people all over the world follow your words like an order? Musk has such an influence that even if he officially tweets that religions don't exist, a lot of people will seriously follow him. Musk has created a cult around him and influenced the world, he probably looks himself like a god. Can a billionaire get more fun than this?

This sounds logical to me :)

Regarding Tesla selling some big share of the bitcoins I recently saw many other news and articles and some of them leave we cannot be sure if they really sold the bitcoins or not because we all know there are still some regulation issues about bitcoin and maybe tesla just aid that to stay away from the possible issues also this can be a piece of news from the Elon Musk's company to spread some sell new and put bitcoin under pressure to fall more especially during this time. But even if they sold the bitcoins, I leave they got enough profit from it otherwise they would do such thing ever.

Elon Musk has a long variety of bad things done in his life, dude has done so many bad things in his life, it could literally be a book lengthy if you just list them item by item, and yet everyone loves him because he took over a good company.

I mean I get it, without him Tesla wouldn't be this big, he spent money on it, but let's also realize that this guy has absolutely zero idea on how to build a car, not an electric, but ANY car, he has general knowledge like you would if you spent time in a car company for a decade, but that's about it, he is not an engineer. And he is out there trying to talk about like how he did something, he did NOTHING but just spent money, that's it.

Funny do they realize who owns the company?  Maybe those guys is a die hard fan kid of Elon Musk and even if they see some bad things their idol do they still ignore thia and continue to hail his name.

And for sure people will not care if he sells or not because many already knows that he is not there to support bitcoin but rather he is there to manipulate then make it as his milking cow.

Yeah, agree
Elon has never given up on his idea of ​​a "loyal" approach to bitcoin, he's just transformed the opportunities from the value he and Tesla can create.  I think Elon definitely understands that and he's just taking full advantage of his value and position for the purpose of making money so I don't doubt they sold bitcoin

Elon is wise enough to handle his investments. Since it's amounting to multimillion dollars, he wouldn't sell it without making a profit. He's too smart to sell without making a profit. I'm sure that he has other plans or might as well he's just releasing statements to manipulate other investors for his own benefit again.

We must simply accept this for what it is, Elon is only interested in making money with his investments and there is nothing wrong with that, he is not someone like Saylor which seems to genuinely believe in bitcoin and its future, so the fact that Elon is now selling his bitcoin should not surprise us at all, if anything this is something a lot of us saw coming as he never gave the same aura of confidence Saylor gave, and now we are finally realizing we were right all along.

It's also not surprising that they are advocates of the short time frame to check profits, and they don't really maintain it for the long term. Like many investors, people need to sell to make a profit or cut their losses, so looking at Elon, I have nothing to say. And just as many people have benefited from the BTC price increase, I also think that the opportunity it offers is not for everyone. Those who seize it will have more happiness.

I think Elon has never really been a big Bitcoin fan. And I think it wasn't really felt by the community that Elon has got their back. He indeed purchased Bitcoin but it was seemingly more of a diversification tactic to probably protect his money's value than a sincere appreciation of the technology. This was kind of reinforced when he believed in Bitcoin's critics regarding the contentious energy issue. And then there was also the subsequent decision of halting the acceptance of Bitcoin payment in Tesla.

Anyway, at least with Elon already dumping a big majority of his Bitcoin portfolio, we're already more or less freed of anxieties of when this unstable whale suddenly shakes the market when he finally sells.

The pressure to remain at the top richest man on planet is so high so he need to find multiple sources of income to retain this and he find an opportunity to gain millions of dollars in crypto so for sure he will continue his stint on bitcoin to gain more money with it. And we cannot expect him to give his 100% support on bitcoin because he surely here to gain not for the new technology offered by cryptocurrency industry.

I believe the specific reason they gave was due to supply chain issues, specifically from China, due to Covid lockdowns in China.

Musk also said that Tesla would consider owning bitcoin in the future if it aligns with their financial condition.

Musk did originally say that Tesla was not going to sell any coin they received from customers for purchasing Teslas, but I don't think he specifically mentioned the coin from their original investment. In any case, Tesla's situation changed, and the economy changed, so Tesla had to take steps to protect its financial situation from deteriorating

Well, Musk is rather the background of the dogecoin than bitcoin, and as far as I know, Tesla did not get rid of them and left all the savings in the meme critical currency intact. Even if there was or really is a bitcoin fan, this does not mean that bitcoin is more expensive for him than Tesla, thanks to which all the greatness and success of Musk's entire business empire is based. Everything is situational here, the cryptocurrency exchange rate clearly does not show an upward trend, but on the contrary has fallen significantly, and I fully trust Elon's own explanations that the company urgently needed cash as a reserve due to the pandemic history. By the way, Musk still has not renounced bitcoin investments and all this only says that Musk does not yet believe in the next sharp rise in the bitcoin exchange rate.

I realize Elon Musk is not a Bitcoin supporter, when he manipulated Dogecoin for his own benefit. This means that Elon Musk will do whatever it takes
to make him richer, in the end Elon Musk only cares about money matters. After all, Elon Musk is indeed famous as an entrepreneur who can use
anything to make a profit, just like when he bought Bitcoin, he indeed from the beginning seemed to just want to make a big profit from Bitcoin.
So if Elon Musk finally decides to sell his Bitcoins it's not something that comes as a surprise to me. Because Elon Musk would have sold his Bitcoins
if he felt it was time to make a profit, I'm sure Elon Musk must have planned everything well. So no wonder he became one of the richest people
in the world, because he knows how to make big profits.

This is the new reality we live in, the megalomaniacs now can instantly communicate with the world 24/7, instead of making press statements like in the old times. There's no one in the loop who could talk them out of saying stupid things, no one to provide context or commentary, just a direct connection with their audience.

Crypto community and Musk are perfect for each other, both are focused on hype rather than results. If a billionaire can convince people with a few tweets that a shitcoin has value, this just means that crypto market doesn't care about fundamentals, it's just a casino for redistributing wealth.

Since cryptocurrencies are currently in a period of decline, it is normal for such a situation to follow. if he sold more than $29k worth of bitcoin, he has made a profit now. Elon Musk is an ambitious and strong man. I think he make a lot of money from this market. That's why he never leaves the market. After the values of crypto currencies drop a little more, he will start buying again.

Considering what I have been seeing in the space and other news, that means Elon musk and Tesla believes that the bottom is not in yet if you think they might buy back when the market dips more. Of cause, Elon is a businessman and investments are all about profits but did they even made any profit from this move of selling off that amount of their Holdings of Bitcoin from when they bought? Well, I guess as you said, it's about cutting losses and maybe they are not strong enough to Hodl through the bear market  ???

Actually, shitcoins especially those that doesn't really have any usecase are more like a casino than an investment instead. I've been on some of those coins and I was able to earn quite a decent amount on these hypes however it is too risky to invest in these tokens. You can only imagine how things were on other blockchains as it is easy to create shitcoins there and one word from Elon would boost the value of these tokens more 10 times.

Shitcoin community are more on hype than legitimate technology, usecase and security and these types of tokens are easily wipe out during this bear season.

Anyways, I think this news of Elon selling more than 70% of their BTC holding or more like a strategy to cut loss and re-entry at a much lower price.

If all the so called billionaires withdraw their values, Bitcoin will still remain strong. This should prove to everyone who currently controls Bitcoin.

Only honest money can have an impact because I can't fight the truth.

Bitcoin lived without Elon Musk before and so it will be without him again.
Let's call those who invest in Bitcoin just because Elon Musk did too the Elon enthusiast not Bitcoin enthusiast.
They may be blank about what Bitcoin really is but is full of information about Elon.

Definitely the sell off will happen, we just didn't know when. But that's his plan right from the start, these are businessmen at the first place. They see ways to profit they take it.

It is still difficult to say whether Tesla profit from the sale of its 75 percent of bitcoins will receive a profit, or will ultimately suffer losses. Bitcoins were purchased by this company in January 2021, when their price was on average from 30,000 to 35,000 dollars. They were sold at a price of $ 29,000. That is, in fact, such a deal was in a result. But everything will depend on how to do it further and whether the Bitcoin course will fall. Even if Tesla will again buy bitcoins at the current price just below $ 22,000, then on each bitcoin they will earn about $ 7,000. And we are talking, in my opinion, about 54,000 bitcoins. But we do not know Tesla's plans for bitcoins. Let's see what will happen next.

At the end of the day Elon is a dickhead and I never really liked him. I mean we gotta understand that he is not the type of person that would make any sense in any capacity. Dude is not being rumored to have an affair with google founders wife as well. This dude has been there for all the bad things at all times, he is always at the bad place at the bad time and that is the horrible thing to do and thats the issue. Just realize that he is a bad person and move on, if you can't realize that then you are going to end up making trades and that will result with you losing a lot of money if you keep doing that based on just Elon.

The thing is most ppl have made him as their idol only because he is the richest person in the world which is not so surprising, but we tend to forget he is also only a human and thoughts keep changing being a human being. Also we say sticking with one idea forever is a sign of arrogancy, afterall its his life not ours..

It's hard for me to trust Elon Musk these days after his crypto and twitter debacle in the past. I feel a bit betrayed and think now that he has a plan every time he posts information about the crypto world. If the twitter deal would have went through he would have had even more power. A positive or negative tweet from Elon can send a crypto coin flying. Now I am wondering how much money did he personally and his company tesla make from bitcoins. If some rich stock broker would have done the same thing with stocks, people would have called it insider trading. In the end it doesn't matter, I am not listening to any rich guy when to buy and when to sell. Investing for the long run takes away the urge to sell as soon as prices are falling. Now with the cheap bitcoin price it seems better to buy than go sell.

The important thing that i have learned from tesla if this company will be silently bought bitcoin but after it already acquired bitcoin and then the company will be making a statement. I guess if tesla was getting small profit from what already sold. Tesla was avoiding the thing like what happened with microstrategy to face a huge lose from its bitcoin investment. This is a financial decision that already taken by tesla.
Im sure that once market was showing a bullish signal and this company will be silently accumulating more bitcoin. This company is unpredicted.

It is understandable that he may not want bitcoin, or it is understandable if he wants to hold some coins neither, both are quite understandable.

I have met with a million people who ended up with people who bought and sold bitcoin. If you are not entirely sure about what you want in the crypto world then you could buy or sell anytime you want. Just because he is the richest person in the world and Tesla is a giant company doesn't change the same fact.

Just like the guy who bought 300 bucks worth of bitcoin, and sold it, are the same logic as the guy who bought 1.5 billion dollars worth of bitcoin and sold. Maybe the impact could be wrong, but the mindset of doing it would be the same thing.

Correct, for people like us such a thing means nothing, however you do not get to become that rich by accident, it is obvious he cares a lot about the money he has and wants to get even more, and if for that he needs to invest or even use this market as he wishes then that is precisely what he will try to do, however this should be a lesson to all of those people which went crazy over Elon and his tweets about dogecoin and they need to learn to be more cautious because it is obvious he cares nothing about them and about the losses they may get.

It has became harder and harder to believe in what Elon says, plans and promises. Tesla no longer accepts Bitcoin, Tesla has sold part of previously bought Bitcoins, Elon's situation with Twitter, Elon has triggered crypto market flood with meme coins, trolling whole world in his twitter account. One day it might turn that he has cause more negative to crypto, than positive. And I would not be surprised, if he silently has sold his dogecoins, which he has promised to hold forever and support.

I think as a wise businessman with lots of influence over its market, he knows how to hype a specific cryptocurrency, attract attention and buyers, then suddenly pull-out all of its investments and earn a quick profit. At the end of the day, Elon Musk is a businessman; all he cares about his receiving more profit at the end.

Though I do agree, he is an avid supporter of Doge, though the latter is considered as a memecoin with no use or anything whatsoever. Ultimately, if he invests into something, better try to earn a quick buck and pull-out your investments as soon as it reaches a certain threshold of profit on your end.

And that is the thing with Elon, we know that someone like him can change his mind as many times as he wants as he needs to adjust to the circumstances, but some of the changes that we are witnessing do not seem to be calculated and seem to have no reason behind it, this is especially true with his offer to buy Twitter only to take it back some weeks later, I do not know if he just wants to bring attention to himself or something but at least to me as of late his behavior looks erratic.

Elon Musk, as business tycoon, he would have understood the risk involved in business. Though he was afraid to loss his money probably he has not fully understood the bitcoin market. But for those who understand the market would not sold out his bitcoin just like that because of the bear Market at a point of time. He would not sell them at that time of the bear Market. The 75% that was to was to support his businesses.

This is shocking news that they sold out their holdings at a loss. This could demotivate other institutional investors not to invest in crypto anymore. But in the long run, this will bring stability to the crypto space. Too much holding of assets into an institutional investor is not a good thing especially if it has a limited supply like bitcoin.

But I hope other big corporations will be more involved in crypto. Especially I am looking for companies like EA Sports, Microsoft, google, etc.

Musk is a rich man and he moves the market as per his wish. But we are not rich people. We are the one who live pay cheque to pay cheque.
I think loss is not a loss for these big shots. For them peace of mind and time is very important. So they do what please them.

I think because Elon Musk hasn't been in the crypto world very long, so he doubts the future of Bitcoin, and he felt the risk was too great
for holding Bitcoin. Even Elon Musk didn't experience the bear market that happened in 2018, so maybe he's surprised the price of Bitcoin
continues to drop drastically this year. This means that Elon Musk doesn't really understand the crypto world, even though in my opinion
it is a disadvantage to sell Bitcoin in a bear market situation like now. Moreover, selling Bitcoin in large quantities in a bear market situation,
it wastes the opportunity to generate large profits in the future. Actually I can understand Elon Musk's fear of holding Bitcoin, because he uses
a large amount of capital when investing in Bitcoin, so his asset estimate will drop very deep if he decides to hold Bitcoin.  Of course, Elon Musk
has a high level of concern about the current bear market situation, because I only use a small investment in Bitcoin, felt great pressure when
the price of Bitcoin fell as it is now. But I believe Elon Musk will return to investing in Bitcoin again when the bull market comes.

Take a look here: when Elon starting to be more into crypto, Bitcoin price was below 20k, he has triggered its pump, and now Bitcoin price is almost back to where it was. When Elon has initiated Twitter purchase, its price was 41 USD, later it has pumped and now it is again back to ~41 USD. Elon has tricked us again. I am not surprised that Tesla has sold their bitcoins. Once again some people earned a lot easily.

Musk is moving the market like he deems fit.
Sine he is a rich man and he can buy big business so he does what he want to and people are bound to follow his decision. One should be as rich as Musk.

This just means that Elon gets what Elon wants. Dude's extremely rich that he can do anything he pleases. Many people follow his movements because they already saw what Musk is capable of. 'Follow the money' as what a lot of people say, and Elon is the money. A lot of people surely made a quick fortune just by following what Elon does. A great example is dogecoin: a coin that has been dead for long which was revived by the Tesla man with just a few tweets.

He's a genius and that's the reason why he's the richest. We might think, why he wants to make money out of everything. After certain level, maybe it can be fun for him to make money. Just think of his plans to buy Twitter, he went for it pumped the market and then he wasn't interested and dropped the deal. Same as this he have announced that Tesla have sold its bitcoin holdings. This doesn't mean he have sold everything. It means he's looking for the right opportunity to manipulate the market.

And that is what scares me. Dude with almost unlimited amount of funds can do what ever he wants to the market. It depends on his mood where the market will go now. That makes market sort of a centralized. As you have mentioned dogecoin, I am not sure he has sold his dogecoin, that he promised to hold for ever. From now on, I would be double cautious what Elon Musk buys or does.

Its never recommendable on the first place that you should follow on what those people or fellas been doing with their investment which you should really be doing the same step.We do understand
about fundamentals but not all the times you would really be making yourself to follow into those sentiments if you dont really like to be fucked up.
Invest on what you can afford to lose and dont make yourself impulsive whenever you do hear out sentiments or news in the market.Its not bad to consider but
you should really be that wise on taking up decisions.

While without a doubt Elon is going to keep being relevant due to his own fortune, if he keeps exerting his influence over and over again then the power he takes for granted will be taken away by the same people that support him, after all if some people were naive enough to follow his movements and believed he was infallible then most likely they lost some money, and as such the next time Elon does something it is way more likely the same person will not follow him blindly again as he will remember what happened the last time he did something like that.

i've always thought that he would sell his bitcoins because he's not a crypto enthusiast, he's just a business capitalist, and that's all.. even if he sells his share of bitcoin it won't affect the crypto market significantly, so i'm not too bothered about this

However some people that followed his "suggestions" or lets say indicators, managed to earn. I am just waiting when people stop being blind or realize that whatever Elon Musk does, he does it for himself. He is not an enthusiast that wishes to make everyone happy and rich. I just wait to see when people understand that whatever Elon Musk touches, does not turn into gold for everyone.

He doesn't actually have unlimited amount of money, but he can do what he wants with the market that is a bad thing of course. He is rich "enough". We are talking about an electric car company here, which can't just end up putting 50 billion dollars into crypto, they did it with 1.5 billion because that's what they could have done it with and they lost some of it probably and he was forced to sell it for share holders.

Now we are talking about people who are making a big deal about him selling, but they should have made a big deal about him buying in the first place because that matters, if he didn't end up buying then we wouldn't be having this trouble of him selling to begin with.

Tesla bought bitcoin last January when it was priced between $30,000 and $35,000 and sold it for $29,000. That is, one and a half billion dollars were in bitcoins for more than a year, after which they were sold at a decent loss for the company. To take such a step, you need to have information either that bitcoin will continue to fall in price for a long time, or that the crypto winter will last for a very long time, and therefore it is unprofitable to keep such an amount idle.
But it is still difficult to understand their contradictory and illogical actions with bitcoins.

Elon has a history of crazy, sudden moves that nobody expects from him! Who knows what's happening in his head, but I guess what he's doing with his money is his own thing! I think he is just trying (love) to manipulate people and his assets, and sometimes he is great at that! If not he wouldn't be so crazy rich in the end!

I don't like him generally, and I don't have respect for him and many of his actions connected with crypto... but it's what it is! I a not sure why he sold BTC, but maybe he cashed out because he will need some money for the fiasco with buying Twitter...

He is a public figure who does have a lot of fans so it's not surprising that many people still believe in him because if you look at him from the naked eye he is a person who is capable enough to do anything with the money and power he has.
But maybe for now actually more and more people are realizing that this is not very useful so that indeed many people now may ignore it even though there are still many who follow it.

For every known person then expect that there would be fans or who do support such individual which does simply means that whenever they do make up some noise then expect that there are ears and eyes would able
to see it and since Elon and his companies do make out some movement specially if its crypto related then you could really expect something like this to happen.He might be indirectly doing things but it is some sort
to be a manipulative act which isnt really that very common but pretty obvious to be done by someone and since this market is highly reactive into these kind of events or sentiments then you could expect
that there would be neither no movements or does have basing into that certain circumstance or happenings.

This should be obvious and yet for some reason people do not really get it, someone like Elon did not get to become so rich by thinking on the well being of everyone else, it is obvious that he is thinking on the benefits he can get for himself and no one else, however if someone was fortunate enough to earn money by following what Elon said then it is going to be almost impossible to convince them of this fact and they will only change their mind once they suffer some losses too.

He pretty much goes whichever way his whims go according to the blowing of the wind.  Sometimes I wonder if he gets a rise out of how a few words tweet(s) he makes moves the crypto and stocks markets, definitely feels like an ego or a just because thing at times, like when he was talking about accepting Telsa purchases in BTC and then over exaggerated the impact of mining on the environment as a reason not to go forward with the idea.

many people expected the Bitcoin price to crash after Elon's announcement but it didn't happen...

Elon has become a businessman who only cares about profit, from the start he just tried to attract the sympathy of bitcoiners and the world by saying he loves bitcoin even though he doesn't at all, once he does that then people will no longer believe what he says about bitcoin.

Although Elon Musk is among the smartest men to live on the face of the Earth, he never truly understood Bitcoin based from what he tweets, and has he said about Bitcoin. There was a time when he was  merely parrotting what the big blockers were saying about efficiency and transaction throughput. He never learned that blockchains isn't entirely about speed, it's about settlement assurances.

Are we sure those are the numbers? I am not sure if they were, but if they were then it was a close call for them. I mean buying at 30k-35k is understandable because it was there last year, but we haven't been 29k for a long time, but if they publicly release these information that means they got out a lot earlier than they let us know.

People should see this, we haven't been 29k, and if you are telling that they released it and it was actually 29k, then they must have sold a lot earlier and only notified the world now. Which is manipulation but since it is not stock manipulation, I am sure that SEC would probably not do anything about it and let the crypto people take the hit.

What a life these big names live.
They move the market as they like. I don't know how God bless the with so much money and wealth and fame. They would not have longed for anything in their lives.

I agree that it looks like it is a bit of a shady situation. If they released this information as legit, then they must have informed SEC about this and that is why I think it's true, but the fact that it is true means that we are talking about something legit here and something must be going on. How could we know when they sold? I mean 29k hasn't been around I agree which means that they are manipulating the market with late news.

When they bought it, it was close to 50k but they bought it when it was 30-35 range, and when they sold it was 20 and they informed it as 29, so that means we are talking about them taking their time, smells fishy for sure.

I believe companies listed in the stock market are required to report their market investments, but it doesn't mean they should report it on the day they made the move. I think they have a required schedule when they should be filing to the SEC, then reporting what they did for the quarter.

Elon Musk has enough legal problems from his failed bid to buy Twitter, I don't believe he wants more problems from the SEC for market manipulation. Hahaha. Everyone currently hates Elon Musk that they're looking for something wrong in his every move.

No, I believe NOT. His "one word" could move shitcoins like Dogecoin, or it might move Bitcoin for one hour, but the market always prices information in. Elon Musk will become irrelevant, HAS ACTUALLY become irrelevant to Bitcoin and the market in general, than when Tesla announced their sale of their Bitcoins, the market didn't react negatively. In fact, it reacted positively. Bitcoin is higher than Tesla's sell price.

Long before Elon Musk cryptocurrencies were big, the growing global community proved that when Tesla sold bitcoin stock but the market didn't turn red, the price just kept going up and this is proof that whatever Elon Musk does is not reacted too much by the market.

Elon musk may be the richest man on the planet, but as in terms of calling the man a genius, or thinking his word on bitcoin or cryptocurrency has much of any real value is foolish. The guy absolutely does not really understand how cryptocurrency works. He certainly doesn’t understand cryptography. This move didn’t make sense in my eyes, they’d have been better off hodling long term.

He has become irrelevant because of the fact that he is not tweeting about it anymore. But, if he starts doing that again and again like crazy, then he will probably make the markets go crazy too. I know that it is not something we should look forward to, I dislike the guy as much as the next person and even though he created two companies that are amazing, he just took over them and not the actually founder of these companies at all, he is just the investor to them and nothing more.

In the end, he has power, we do not want him to have that power but unfortunately, he does have that power and that makes things a lit bit difficult for people like me and you.

Elon is smart, so he won’t sustain seeing his investments falling where it should be going forward. More like he wants to see his investments keep on generating an income, and I think bitcoin can’t do it for now. However, I believe Elon will buy back again when he sees opportunity to buy at its best price. Selling majority of his bitcoin does not mean he’s leaving the crypto market, as I bet he’s hodling a lot of dogecoin way back then. And definitely, his act of selling will never leave a huge negative impact on bitcoin market either.