Musk NO HODL - Sells at ATH - Pockets $272M in profit - Leave HODLR's empty bag

[btc-room101]

https://www.teslarati.com/tesla-bitcoin-sale-272-million-profit/

Well its a done deal, god himself has pulled the rug underneath BTC, who could have known? Who would have guessed that MUSK Not HODL??

Not bad eh? Borrrowed money, pump&dump BTC all the way, and then dump, and step back; rinse & repeat

Hell its the AMerican Way

Indeed the Gods Must be Crazy

I know, I know, your all going to say "Yawn", "Musk is just a whale, this is what Whales do"

Not really Musk is a HODL cheerleader, and its in your face "Do as I say, not as I do".

Well good for Musk, I was worried that TSLA would be holding the empty bag, and this loss would BK TSLA. So now we know TSLA made out like a bandit and the Bitcoin-HODL troops got screwed. All is 100% normal. Even GoldmanSacks couldn't ask for a better outcome.

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[DaveF]

So, they bought 1.5 billion it went up and they sold $272 million. Not knowing what they bought at it's tough to tell what percentage of their BTC they sold.
Also, did they sell any that they bought or was the $272 million they sold what they took in from auto sales? At $60,000 a car average that's only 45000 cars.

-Dave

[malikg18]

We are not MUSk's. He can do anything with Bitcoin.we should set strategy according to our pocket .But I think All capital holding is not suitable, we should rotate our capital.Some parts of it can be put for long term in good projects.

[bryant.coleman]

No need to go ballistic over his selling. From what I have heard, Tesla has sold just 10% of their Bitcoin holdings. They got the coins for a very low price in January 2021 (when the exchange rate was <$30,000 per coin) and it makes sense to do some profit booking now. It is something every intelligent investor would do. On top of that, their BTC stash is increasing with every passing day, because Tesla has started accepting Bitcoin payments for their products. I am actually happy that Tesla sold some of their holdings. It enabled them to post a quarterly profit and the Bitcoin exchange rates went up by almost 8% due to this event.

[avikz]

Tesla is a business entity and Elon is a businessman. So everything they do is an attempt to make profit. So I am not really surprised to see that Tesla booked profit from some of its digital asset holding. That was expected and I believe many other people thinks in a similar line. I wouldn't be surprised if Microstrategy does the same at this price point. It would be surprising to me if they don't book profit now.

So don't get disheartened whenever these big businessmen buys and sells digital assets. That's what they intend to do, to make profit. HODL is for the common people like us!

[grabpopcorn536]

We don't know how much Bitcoin Musk bought and sold. The information he gives out is just information and it only affects the crypto market for a short time. Bitcoin has been through many different events with big or small impacts, we should not worry too much about bitcoin as long-term investors.

[SaShiRaJaVu]

Well its a done deal, god himself has pulled the rug underneath BTC, who could have known? Who would have guessed that MUSK Not HODL??

Not bad eh? Borrrowed money, pump&dump BTC all the way, and then dump, and step back; rinse & repeat

If you expect all the big investors will be holding for a long period of time you then you will understand that in a few months time. All these institutional investment that took the market to new levels will be booking their profit whenever they choose and that is when we will see corrections.
If you want you can also follow the same path  .

[meanwords]

It's pretty obvious. You can't expect everyone to hold Bitcoin forever. It's not like he's doing anything wrong. "Leave HODLR's empty bag" is a bit of an overstatement because he didn't really pressured any investors to invest in Bitcoin and hold them.

Let me add. It's Tesla who sold those Bitcoin, not Elon Musk's Personal holdings, at least according to him. I think Elon Musk doesn't have full control over this decision.

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

[acener]

I am sure as an investor we are free to do what we want with our investment,
We should respect whatever they want to do with it I am sure there are also some investor who done the same thing  it is normal in crypto,
We would do what we think we must do in order to gain profit if they want to sell their holdings to take profit there is nothing we could do and nothings wrong with it.

[Alanaz]

they are gods in their finances like whales doing their own thing. i don't know what will happen in the future but for the old hodlers I don't think they need to worry too much about this but it's different from the newcomers and those who are still following in the footsteps of the whales.
This is the reason when many people say that everyone's bitcoin can be very rich, but it could also be that everyone will experience enormous losses to become poor. always be vigilant and keep following the movement of the existing chart, this is a good option.

[Argoo]

Well its a done deal, god himself has pulled the rug underneath BTC, who could have known? Who would have guessed that MUSK Not HODL??

Not bad eh? Borrrowed money, pump&dump BTC all the way, and then dump, and step back; rinse & repeat

If you expect all the big investors will be holding for a long period of time you then you will understand that in a few months time. All these institutional investment that took the market to new levels will be booking their profit whenever they choose and that is when we will see corrections.
If you want you can also follow the same path  .

Quite right. Institutional investors are also businessmen, but under the guise of signs of various organizations. They will also look for benefits and profits from investing in cryptocurrency and they are almost indifferent to its future. Therefore, the hope that they will hold bitcoins for a long time is unlikely to come true. They will sell their cryptocurrency whenever it is profitable for them. There is nothing unusual about this. Everything is according to the law of this market.

[Obito]

From what I have heard it was a liquidity test by Tesla and not Elon Musk himself not to mention that you are also late to the party OP regarding the selling of the bitcoin, it happened about a week ago. Also, is there something wrong with profiting, they invested in bitcoin so it is alright that they profoted from it.

[so98nn]

I don’t think this is that much bothering thing as it is being discussed here. You are investor and I am also investor; whenever we see market is pumping we go and book the profits. That’s why we are trading in the first place right? So if Elon used his power to move the market up and down and got some profits then nothing is bad in that.

Moreover, he have not sold all of the crypto assets so it’s not a big deal. If he could get profits today then he will eventually use this income source in the future as well.

Why would he put bad tag in front of his name if he could just get more out of crypto?

[ILuckyGuyI]

HODLing doesn't mean that you won't sell any of your profits for years or so. Tesla sold just 10 percent of their investment. I don't see it as "not HODLing". It made a great deal of profit and wanted to convert some of it.

[Theb]

If people are panicking on a 10% sale of Tesla's Bitcoin position what more if they started selling the rest of it? This is what I mean about big companies and institutional investors joining the crypto market being a double edged sword as if they see news about them buying they will see this as a positive news but if they see them selling they will be disheartened by it or worst immediately sell on news. The technically being whales is something that we must put into reality that they have the power to influence the market and they are able to make quick bucks from short term hodlings so don't expect them to hold Bitcoin for a year or 2 just to realize a profit.

[Koro-Sensei]

And that will probably be happening to Doge soon. All of late investors will be left empty handedly and Musk would be very much be happy with his twitter doge to moon campaign. A millionaire mindset indeed.

[herurist]

I don't know for sure, because Musk is the most influential person in every crypto sector. either with what he said about Bitcoin, Ethereum, or what he often tweeted about DogeCoin. I just think that the amount of Bitcoin he holds and the amount of Bitcoin he sells, has turned the market price statistics into a complicated one and the bubble is huge.

[Gamerholic]

Musk quite clearly and frankly explained the reasons for the sale of the modest 10% of the bitcoins bought by his company. Where is the banditry, I do not understand? Of course, this is a large volume in absolute terms, and for a private investor it may seem that this is exactly what you are talking about, but only if you do not take the circumstances out of context. And the context is that they left HODL 90% of the purchased BTC. So I think you are wrong.

[avikz]

We all need to understand that nothing in this world comes for free. Elon Musk simply used his influence to make few millions of profit. And that's completely justified in the business world. People are here to make profit and not charity or HODL. So if you were expecting Musk to HODL his cryptos, you had asked too much. That was pretty much expected.

That's why I always mention thay corporates joining this bitcoin bandwagon is not a very good thing for commoners like us.

[jerrison]

musk very well knows that he is not the creator or inventor of DOGE and knows what the investment on businesses that you have no control over entails. Imagine not selling the units he has and a whale decides to crash the prices, that means the market will have an impact that will be felt in a onger period of time before recovery and time is of the eessence when it comes to turnovers in business.