Bitcoin Forum

There have been numerous allegations that Elon Musk sold bitcoin to prove liquidity, and this led to the sale of 10% of Tesla's assets.
But Elon Musk denied the claim, saying that he had not sold any of his bitcoins, and that Tesla had sold some of its bitcoins in the first three months of the year & earning $ 272 million.
https://s18.picofile.com/file/8431953926/ae46f882_1d97_4dd6_8f2d_4ec1c4bba951.jpg

The news shows that Elon Musk and Tesla have chosen a large amount of bitcoin as their capital, and by accepting bitcoin for their own transactions, they are launching a bitcoin revolution.

Source: https://cointelegraph.com/news/i-have-not-sold-any-of-my-bitcoin-elon-musk (https://cointelegraph.com/news/i-have-not-sold-any-of-my-bitcoin-elon-musk)

What does it mean? Will bitcoin reach 60k in this week. Please suggest me so I can invest.

It's in relation with the fact that Tesla did sell 10% of their bitcoins.
And about investing... you have to really DYOR for your money, people should not suggest what you should do. And if you want to hear speculations on the price, just look at the speculation subforum (https://bitcointalk.org/index.php?board=57): some will show you how bitcoin can go to 100k and beyond, some will tell you that's going to fall. In fact, nobody knows what the future holds and that why nobody should tell you what you should do with your money.

Okay Thank you for suggestion. I will do it on my own risk.

Good to hear that Elon Musk took the initiative of clarifying this suggestion of him selling his Bitcoin during the ATH and that he is actually hodling for the long haul. Maybe it can be said that the Bitcoin community found a solid and very pro-active supporter in the person of this man. And though some might debate this: I think that the whole Bitcoin industry should be thanking the man for his strong belief in Bitcoin and cryptocurrency.

Mind stop patronizing this Clown? don't you think that He is successfully trolling the whole crypto community because we are objective in giving a damn in everything he says?

Blocked the account and forget about listening to what he says, crypto will grow even without Joker in our side.

Words are words as that and you can not trust his words if you can not verify it.

If you don't know where Elon and Tesla store their bitcoin (in whatever bitcoin wallets, addresses), you can not judge anything from his words. The saying from Elon Musk is matched with what he and Tesla emphasized when Bitcoin is adopted on Tesla as payment method to buy Tesla products. I can believe in their words somewhat, not completely.

Revolution for Bitcoin because of Tesla. No, I don't think it is the case for Bitcoin. Tesla is not the first and is neither the last nor biggest company have investments in and adoption for Bitcoin.

Wait I'm confused so personally he had some bitcoins, but he didn't sold.

On the contrary, his Tesla investment huge amount on bitcoin and sold to take profits?

Anyhow, I guess it doesn't matter, he still has his own investments and I'm sure that his company may have sold, but with the current dip, they could have re-investment millions again and probably will sell if we have a good all time high in the future.

Bitcoin could certainly go above 60,000$ for this confident statement from Elon Musk.  Elon Musk is a major investor in Bitcoin.  When its researvation comes to the bitcoin market, the market could change drastically.

So what:)

If he does not sell,,, fine, that means one of the biggest new whales of BTC is holding on for the long term. Good for us right?

If he did sell in fact and he was just lying to tell us he had not,,, then it is still good. Means more Bitcoin for other people to buy and less for a whale to manipulate.

I wonder which coins they sold, the ones acquired during the famous Elon Candlestck time or those that people used to purchase Teslas with? Because he stated that those coins used to buy Teslas with gonna be put on a long term HODL. He doesn't need to buy anymore Bitcoins if people are buying cards with their coins.

Besides bitcoin, I think dogecoin will benefit too  ;D
We're all confused, after this growth I will treat Elon Musk as Satoshi. And I think the trust of people has increased again with this tweet

Buy Dogecoin or Bitcoin and just wait. Second best investment advice ever. Hold Bitcoin and forget about it for 3-6 months. Or Hold Dogecoin, check its price from time to time and as soon as price makes +50% increase, sell and rebuy when price goes down. But first investment advice is - dont listen to anyone, if you want to invest - do it. Hesitating - investment is not for you. Easy.

Well that is how it works first we have McAfee to pump crypto back in his days now we have Elon Musk to control the crowd.
It is how it works for so long people or investors are listening to some influential person to follow whatever they say.
That is how pump and dump group has been operating and how other are gaining profit.

It seems that Elon musk holding some BTC for his personal asserts too and his company Tesla also invested in BTC.
These two things are different. If Bill Gates buy BTC, we won't say Microsoft has bought BTC. It is his personal investment not investment by his company.
But yes Elon musk did use his position and popularity to manipulate the market price. Dige coin is classic example how people are influenced by celebrities in their buying decisions.

Works until it doesn't

MUSK is full of shit, last week he said "My cars that crash were NOT on auto-pilot", this week he say's He sold $100M, but he made $272M profit, so he obviously sold much more than his lies.

MUSK now knows the MSM  has his back, no matter the lie, it will be supported by MSM (CIA)

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Bill Gates retired from MS a decade ago, MUSK is an active CEO

TSLA was dying, MUSK took out a $1.5B COVID ( cheap money loan ) and bought BTC cheap ($42k) prior to the ATH at $64k, at ATH he sold and covered the costs on his loan, and tossed the $272M profit on his balance sheet to keep TSLA looking good to the analysts.

GM did this for years GMAC was making 15% ROI on credit-cards with their capital, GM was making 4% ROI on the auto manufacturing biz.

MUSK is now in the same realm, he's not in the EV biz ( except for free 100's of billions of tax scams ), he's in the financialization biz, borrowing cheap money, and gambling.

Same as Delorean 30+ years ago, spent $100's of millions on COCAINE to keep his company 'profitable'

...

Musk came out of PAYPAL, Musk is 'money laundering operation' for god knows who, rocket-ships & auto's an flame-throwers, its the stuff  that keeps children up at night.

[moderator's note: consecutive posts merged]

Yea, Tesla sold them, not Elon. By selling those bictoins he increases his company capital.
It's a smart move made by a smart man. Of course, his personal investments are something else, he is keeping his personal coins and watch them grow.  ::)

Gonna echo this out because a lot of people purely just does not know how to take their own risk and do what you mentioned, DYOR.
The laziness and their dependency to other people will really cost them a lot in the longer term, I reckon.

Yes and only because Tesla sold certificates and Bitcoin, the company now had the most successful quarter ever since its inception I believe. It is funny to see how he plays around with the whole world.

He didn't sell a whole lot of cars, yet the market celebrates him for somehow making the company profitable - even without selling a lot of cars :D

It doesn't matter whether Elon himself sold it or it's his company that has sold it. What matters is that bitcoin has shown again how strong it is and no matter how it has corrected for a few days, there's still a way for it to recover.

He may that he's not the one who actually sold the 10% of their holdings but it's his company which literally he's not the one who pressed the sell order.  :P

I was thinking if it doesn't really matter if Elon Musk will not going to sold any bitcoins that he hold. I mean we don't know how much he was hodling since he is not going to trade his bitcoin so does it mean he was planning to hold it for a quite long term maybe. I bet if he was hodling a bitcoin it could be a large number since he can afford to buy as much as he wanted to.

Actually I also didn't know what might could be the possible effect of this or what does Elon Musk wanted to happen in bitcoin by deciding not to sold any of his bitcoin. But we just all wanted to see bitcoin grows day by day.

I think you have to be smart in taking advantage of the situation, one of which is by looking at the movement of the chart itself. do not overly trust and hope in people.
Previously a lot of people were speculating about bitcoin that will hit $ 100k in April but in fact in last week bitcoin fell after that there were some people who predicted that bitcoin would go down to $ 40k but some people were wrong.
try to take advantage of the momentum and not rely too much on other people's predictions because there may be a few mistakes and when to make mistakes and so you don't regret it at the end.

What Elon did to the market is all about attractions and hypes. He tried to control the market, and yes, he was an influential person, he can do anything in terms of money.
Nevertheless, despite these words of attraction we still not confident enough of what he says. Once the price of bitcoin surged high, the more he gains profit from it, and that is why he encourages people to invest. He is smart and he can able to fool us at any time.

I think it's too reckless for Tesla to sell all of its Bitcoins at a time of rapid growth this year ... and many believe it's impossible, I'm one of them. selling 10% for $ 272 million. OK, well, if we consider Tesla's total hold on Bitcoin to be 90% left and that is, if we calculate it, we will touch over $ 2720 million. It is very convincing that Tesla's survival will still be one of the big drivers of the value and resilience of the Bitcoin price.

It's really hard to trust Elon Musk's words to be honest. Sometimes, he's releasing statements for his own benefit which is just starting to manipulate the market. His words could suddenly affect his followers negatively or positively and it causes panic. As for me, we shouldn't focus on his words unless he could prove them true.

If the Tesla didn't sold any of their bitcoins then probably there is a huge chance that the bitcoin may grow up and pump up again because as far as I know, Tesla have a lot of holding bitcoin right now and it would be really a huge impact if they will just hold it or sell it immediately but I think they will just hold it so that the price of bitcoin will arise again. Let's wait what would be the impact of this actions in the market, let's see.

I think if they really support bitcoin, we must have positive mind too. At least it is good for bitcoin itself and people will happy if bitcoin price increased. As long they not fast to dump their coins when it is increased, because maybe what made afraid if they only do that so bitcoin can up and they aim for profit only and not really support.

This news indicates that bitcoin will continue to rise in the coming months. Elon Musk apparently didn't sell his bitcoins and instead kept holding back to get big profits in the future. Elon Musk sold his bitcoin earlier this year because he also wanted to enjoy the returns from investing in bitcoin, that's a natural thing, I think it's the right move to take advantage because bitcoin has gone up very high compared to the price of bitcoin in 2018.

that's true but i find it a very interesting experiment to see how people react to hype and FUD. for example each time he hypes bitcoin the market either doesn't react at all or the reaction is very small. then he does the same thing to a shitcoin like DOGE and it pumps hard.
i think it is a good indication of the maturity that bitcoin market has gained even if it is not fully mature yet.

The decision was most likely made by their company's chief financial officer(CFO).

Elon Musk said that he haven't sold some of his bitcoin, not bitcoin on Tesla's balance sheet. 2 very different things.

Agree, we need to keep an open mind and not be quick to judge especially if we don't know what we are talking about and we are not directly involved in that event. I don't think that we have to worry if they dump fast or slow because the market will eventually recover.

What the f#@$k are you talking about? This "clown"  ::) are only one of the most successful men in the USA and also an expert in Payment networks. He is also a tech genius and someone that are creating massive job opportunities for many people.

When one of the most knowledgeable people on Payment systems invest in a payment technology, you have to sit up and take notice...

Elon Musk are not hoarding his coins for nothing, he already saw the potential and the way the economy are going in the 1st world countries.  ;)

OK,but what if he's lying or joking? ;D Is Bitcoin basically a "bigger version of dogecoin"? ;D
Will the Bitcoin price crumble apart,just because Elon Musk says something like "Sorry guys,I sold all my Bitcoins,Bitcoin is a joke?",even if he didn't sell anything? I believe that the Bitcoin price is now left on the mercy of Elon Musk,so we have to track every step that he takes and every statement that he makes on social media. ;D
Should we care more about mass adoption of Bitcoin across the small businesses and the middle class,instead of waiting for a rich guy to buy more BTC and post something bullish,in order to pump the BTC price?

Yeah, he told that because a lot of people think that he is just manipulating the market, but we are still not sure because what if he is lying, he can just say whatever he wants to say on Twitter, and by a simple tweet from him, there are already a lot of beginners who will believe him and that is how influential Elon Musk.

We don't know as well if Tesla sold 10% of their bitcoin, no one knows about that, even though bitcoin falls up to $50k in the past few days we cant still conclude that it is because of Tesla who sold their bitcoin.

Elon musk tweeted his Twitter profile with his own speech, I don't sell my bitcoin which means that elon musk a viral person who already invested bitcoin and dogecoin but he didn't sell his any cryptocurrencies.

It is a huge difference under specific circumstances. The SEC doesn't like Elon Musks on Twitter when it comes to influencing the market.
If his company sells that's not a big deal as it's a corporation with its own rights and duties. If Musk as a private person manipulates the market in ways that are not acceptable according to the SEC, h could be fined.

Elon is careful about his words in this regard.

Rumors will always come and go but reality will only reveal either by admission or by acceptance .

Elon is here to Play and Earn so lets expect more of this kind in the future but the best thing is we must not listen to hearsay and believe what is true according to our own research .
Elon wont sell in this price because he knows that there can be a more higher value in the future , He has a funds to support His business so why need to sell out in despair .

This is what I expect from Elon Musk, because if new spreads that Elon Musk is selling his Bitcoin, maybe it could make the price of Bitcoin fall.
After all, Elon Musk has a lot of money, so he will not be in a hurry to take profit from Bitcoin. I believe Elon Musk has a high sell target,
so Elon Musk does not intend to sell Bitcoin in the near future. There is even a possibility that the performance of Bitcoin is very extraordinary,
making Elon Musk interested in collecting Bitcoin.

Even if he sold his bitcoin, what's that got to do with everyone in the market? Yes the prices will go down when Elon dumps his coins but we know that it will just get back up.

Truly I dont get it, It is nice that Elon decided to invest in Bitcoin because he too have seen the potentials with investing in Bitcoin and Bitcoin has had a good strong community over the years of its existence and have been doing well to which I believe that people like Elon musk and the whole Institution are now capitalizing on. This people are not helping Bitcoin but the other way round because now they can even make more monies than they would have. 

Some argue that the connection of Elon to Bitcoin is much much closer than many people think. We shouldn't forget he also founded PayPal and is familiar with financial technology. I personally believe he is holding a lot of Bitcoin. Not holding it for a little while now, but maybe has even the first or the very first to buy it.
And he never felt any pressure to sell it.

It's a nice idea to think about that he is neck deep into in perhaps a special role. There were voices saying he could be Satoshi. I don't know if I would go that far, but it's not impossible that he was involved very early on. It is also him positioning satellites in space. A lot of the things he is doing make a whole of sense and are very coherent.

Yes ofcourse mate, absolutely nothing if he sold but for Elon Musk to make such statement wasn't just to create fear in the mindset of other investor but to clear the air about what others said about him that was wrong. Tesla as a company sold their 10% holding in bitcoin to prove liquidity and rumors went around that it was Elon Musk instead of Tesla, so, he took time to address that. 

If he sold his bitcoin, it's just a temporary dump and will recover soon but that's not the odea here. Let's not forget the fact that if Elon Musk is hodling bitcoin then many people will also trust bitcoin.

The more Elon Musk hodl his crypto, the more assurance it gives to the people who are curious about it and add those institutional investors.

Whatever he says. But undeniably he’s a big help in Bitcoin adoption but I hope his followers are doing their homework specially the inexperienced because if they rely only in the words of others thats why they invested then they might get a serious problem.

So what, if Elon or Tesla sold some of his/their Bitcoin? They are just making profit and that's okay but if you guys can't accept the fact that he's gaining during this bullish season, then be like him. Look how the price went up again today and this is just a rumor it doesn't do anything with the market because some reasons is possible of why Bitcoin was down during that time including the drop of hashrate.

It's not Tesla can make the market move so why put some blame/reason everytime the market drops?

When big tech companies like Tesla start repeatedly talking about bitcoin, the rumor of selling and not selling but testing, it's wise for some of us to just vault the little bitcoin we currently have. This tells us the direction of the world economy and the need never to listen to capitalist who always want to hold us in their pocket. Bitcoin still not too expensive, wait until other giant companies start dishing fiat for bitcoin.

Well people expect elon to keep hyping up bitcoin while keep telling him not to sell, meanwhile many people are also trying to cash out due to the hype. Honestly it's fine even if elon himself selling all of his bitcoin, the problem lies on the people who overly paranoid and overthink about elon's decision.
You see how many people in the twitter explodes from the simple statement of "tesla selling off 10% of their bitcoin" and they thought it was all over the day of bitcoin holding, but after elon himself made a statement, they suddenly got calmed down.

i think the reason why Elon tweet gets more attention is because he is one of the people that came publicly to announce their bitcoin purchase. this tweet is for tesla holding not his personal own. but i feel we really dont need to get borthered about who sells his bitcoin or hold.

it can go either because the market is still sideways but you have to make research yourself and make final decision. dont rely on what people fully, they can only give you a guide or information but you need to check and decide so that when things go wrong, you will know what to do because you made the final decision yourself with much conviction.

Elon didn't sell any and I believe him really. He has no pressure whatsoever to sell any. He is not in need for cash, why would he then?

Tesla is a different story. They have shareholders and want to present a nice balance sheet in public. Perfect opportunity to make that move and they went for it. Nothing else.