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Author Topic: Elon Musk statement on his Bitcoin holding  (Read 538 times)
Imran232
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April 27, 2021, 01:45:57 PM
Last edit: April 27, 2021, 06:34:54 PM by Imran232
 #1



Lot's of people spread rummers that elon mask playing with bitcoin market and he exist after taking his profit. Peoples says elon mask sold his bitcoin to crush the market. But elon mask clear this matter by reply a same topic tweet. That he is still his 90% investment of bitcoin holding. He just sold 10% of his nvestment. Just becasue of spaceX needs funds bitcoin liqudity according to his word. He just confirmed this news. So guys don't panic and don't spread rummers.  I want to know what you guys thought about his tweet. What is your opinion?

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April 27, 2021, 02:13:24 PM
 #2

Take note:

1. Elon Musk probably haven't sold some of his bitcoin (based on his claim).
2. Tesla, as in the company, has sold some of their bitcoin holdings.

These are 2 very different things.

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April 27, 2021, 02:31:09 PM
 #3

from the many negative news about Elon, finally he made a statement which I think this statement can make people who spread negative news and hate Elon to be a little bit mum.
I am not sure whether it will be good or bad news in the future but if I can understand testla when he sold 10% of his investment from bitcoin because all companies want to make a profit as well as testla. because they have many employees who have to keep working and being paid.
but for a different elon, some people think elon as a pope which is really up to him to do what he wants to do because a billionaire is free to do anything and it is very difficult to prohibit doing something.
I can only take advantage of every available momentum from these billionaires.

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April 27, 2021, 02:32:14 PM
 #4

That's why we shouldn't take what these guys say seriously. They make explanations according to whatever is necessary at that moment. Small investors

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April 27, 2021, 02:55:26 PM
Merited by vapourminer (1)
 #5

He just sold 10% of his investment. Just becasue of spaceX needs funds.

He said: "Tesla sold 10% of its holdings essentially to prove the liquidity of Bitcoin as an alternative to holding cash ...", not because the company "needs funds". These are two completely different things.

As I read it, he wanted to (had to) prove to his investors and shareholders that Bitcoin holdings are as liquid as cash.

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April 27, 2021, 04:56:08 PM
 #6

It looks like Elon Musk wants to test how easy was to sell a big amount of bitcoin, because if they weren't able to sell bitcoins they would be in big problems right now, so, that 10% sold from the tesla holdings was only an experiment, just to prove it was possible.

Now the question is, the $1.5B spend in BTC was from tesla, but how much does Elon musk invest from his pockets?. And should we consider this a market manipulation?
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April 27, 2021, 05:14:44 PM
 #7

Take note:

1. Elon Musk probably haven't sold some of his bitcoin (based on his claim).
2. Tesla, as in the company, has sold some of their bitcoin holdings.

These are 2 very different things.

Exactly it is! Elon holds bitcoin personally which he has not sold to the market. But Tesla indeed booked profit. But I believe that was expected to many people. Tesla is a business organization and they are here to make profit. So it's no harm if they have liquidated some of their digital asset holdings to book some profit from their investments.

I believe Square or Microstrategy will also go down to the same road sooner or later. After all they are business entities and not a charitable organization. So if we cheer when they entered into the market, we should also be prepared for when they exit from it!

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April 27, 2021, 05:29:55 PM
Merited by vapourminer (1)
 #8

Take note:

1. Elon Musk probably haven't sold some of his bitcoin (based on his claim).
2. Tesla, as in the company, has sold some of their bitcoin holdings.

These are 2 very different things.

Exactly it is! Elon holds bitcoin personally which he has not sold to the market. But Tesla indeed booked profit.  
Thats the point most people don't get, Elon Musk isn't Tesla,. He might be the face of Tesla judging from the shares he holds and the fact that, its indeed through Tesla and there electric cars that most people came to know Elon Musk but the fact still remains that, he isn't Tesla. From his claims in the tweet in OP, it is stated clearly that he hasn't sold any of his bitcoin, Tesla as a company has but, he hasn't.  We all heard of the over half a billion dollar profit over a one billion dollar Tesla investment that rallied the market during the bullrun. That was Tesla's not Musk.

Musk isn't doing anything strange or outrageous in his tweets about bitcoin. Yes, he does have some influence because, it introduces some sentiment to the market to rally along but that's in traders. Your left to build your sentiments about his tewwts and should you go for a buy or a sell, its on you. One man can't move the market, he can only influence it by the sentiments the crypto community conceive about his investment plans.

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April 27, 2021, 05:39:57 PM
 #9

1. Elon Musk probably haven't sold some of his bitcoin (based on his claim).
2. Tesla, as in the company, has sold some of their bitcoin holdings.

These are 2 very different things.

Yeah, two different things, and the moment I read his reply I instantly thought, wait, why using the word "my" when they are actually not yours, but then I realized the guys have some real politician material in him that has just surfaced.
I remember one scene when one of those morons in y country said he donated half of his salary (about 3000 euros) to charity, wow, so much impressive, but his family had a fortune of a few tens of millions, same with Musk, no I haven't sold any of my bitcoins which up to date nobody knew I had and they might be just two or half of it, but I did tell Telsa to dumb a few thousand.

But, in the end, it's a free market, his company( that he is running like a dictator), his keys, his coins, his decisions.
It's f* obvious every of those so cheered investors in BTC will at some point dump their coins and take the profits in $, it's not like Grayscale is an entity with a wallet that can go around buying hotdogs with BTC.

Thats the point most people don't get, Elon Musk isn't Tesla,.

Oh yeah,  he is.
If tomorrow he wakes up with a bright idea all cars tesla cars will have 5 wheels and 1 door and nobody will be able to stop him.


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April 27, 2021, 06:04:23 PM
 #10

The magnitude of his influence on public opinion in the West and not only significantly and only grows from year to year. His contribution to the development of cryptocurrency and its adoption for payments has given the market a lot more than many other famous people in the industry. So you should take his words literally. The guy believes in bitcoin and logically explained why he sold part of his assets. If such a person says "hold and do not sell" - then we should also think about it.

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April 27, 2021, 06:11:10 PM
 #11

Take note:

1. Elon Musk probably haven't sold some of his bitcoin (based on his claim).
2. Tesla, as in the company, has sold some of their bitcoin holdings.

These are 2 very different things.
Yup, that's two different things. And while Tesla sold some of its BTC it was not the entire share. Most people would have gotten shaken up a little when the market was in red a few days ago. In the end, what matters is the long term stance on this.

Also, the fact that he stood up and commented about it means that he might care about his BTC investment. It is not like DOGE, his BTC investment is more than just a 'see market reaction' to troll tweets. Anyways, there seems to be more solidarity which is good news.

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April 27, 2021, 06:20:17 PM
 #12

Just because a correction happened people started to blame him for that without major evidences?
So far Elon Musk is being fully beneficial for crypto market. He helps to promote it, to bring more investors and he also put a lot of money from his own pocket and from his own company into bitcoin. I think those are important points to be satifisfied about and enough to not spread lies and envy on him. Anyway I'm not surprised, as there is already a popular opinion on the internet saying he should carry the world on his back for being rich and a successful entrepreneur.


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April 27, 2021, 06:30:47 PM
Merited by philipma1957 (2)
 #13

Lot's of people spread rummers that elon mask playing with bitcoin market and he exist after taking his profit. Peoples says elon mask sold his bitcoin to crush the market. But elon mask clear this matter by reply a same topic tweet. That he is still his 90% investment of bitcoin holding. He just sold 10% of his investment. Just becasue of spaceX needs funds. He just confirmed this news. So guys don't panic and don't spread rummers.  I want to know what you guys thought about his tweet. What is your opinion?

Elon has worded this statement in a certain way, but as cryptocurrency is not a regulated financial instrument so he could be lying and nobody would ever be able to take any action against him. That's why he cannot spout rumors around Tesla any more, so manipulates cryptocurrency like Dogecoin instead. The fact that you instantly conflate "his" bitcoin with Tesla's bitcoin shows how he can get away with such things, it is effectively working as a money market fund within Tesla and he is not bound to much publication around the profit he takes. The fact that he is on the defensive should be more alarming than him ignoring it in the first place - he usually revels in controversy, he might want a longer time to sell off at the higher price.

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April 27, 2021, 06:49:12 PM
 #14

It does not matter if Elon Musk sells his bitcoin, Bitcoin will definitely not be affected by one person, no matter who owns bitcoin, bitcoin grew before Elon Musk entered the bitcoin market and maintained its growth over ten years despite government opposition and despite all the difficulties it faced in its history. Bitcoin has proven to be strong and stronger than all these hardships.
Of course, if Tesla sells its bitcoin it will negatively affect the market because people will think that the bitcoin will collapse and people start panic selling, but I am confident that in the end Bitcoin will hold together and come back stronger than it was.
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April 27, 2021, 07:07:04 PM
 #15

As i understand the problem is not with who is controlling it or who is going out from the market with his profit. The simplest thing is no one invest on something without the intention of profit. The problem is with us, we act too much panic when its not really necessary and start to take wrong steps or decision. Because of these wrong decision we get in trouble, so finally we are the reason of any kind of fall down not any individual person or group...
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April 27, 2021, 07:14:42 PM
Merited by yhiaali3 (1)
 #16

It does not matter if Elon Musk sells his bitcoin, Bitcoin will definitely not be affected by one person, no matter who owns bitcoin, bitcoin grew before Elon Musk entered the bitcoin market and maintained its growth over ten years despite government opposition and despite all the difficulties it faced in its history. Bitcoin has proven to be strong and stronger than all these hardships.
Of course, if Tesla sells its bitcoin it will negatively affect the market because people will think that the bitcoin will collapse and people start panic selling, but I am confident that in the end Bitcoin will hold together and come back stronger than it was.

i like your line of thought here. i dont understand why some people seem to rely from elon musk on what may possibly happen to btc. btc has been here for years without him in the picture, so for those who are spreading fud because btc will collapse because of him, it will not happen.
people are giving meaning to whatever musk is doing these days, even simple tweet like in doge. people are buying.
from his tweet towards the selling of about 10% owned by tesla, i guess, he proved his point to his investors. i dont think we need to worry about the collapse of btc just because of this.


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April 27, 2021, 07:19:54 PM
 #17

How can you clarify whether he say the truth or not? He can sell all of his bitcoin in one day and claim that he still holds them. Nothing we can know for sure. Even though I believe this man support bitcoin, nothing ensure us that he is taking profit for a short run
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April 27, 2021, 07:21:42 PM
 #18

That's why we shouldn't take what these guys say seriously. They make explanations according to whatever is necessary at that moment. Small investors
We can't just help things if we keep them quiet because they are small and big investors and among all; public influencers. They must be listening to becasue they have some financial strength to  push the market reasonably.

If i may apply some financial laws here: Elon Musk and Tesla company are two different entities, i will rather believe that he -'Elon Musk' still holding Bitcoin while Tesla sold some percentage of it portfolio to prove some points to it stakeholders.

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April 27, 2021, 07:22:43 PM
 #19

A very important thing to note here as everyone mention is that Tesla sold 10% of Bitcoin which is quite obvious you have to show your investors some realised profit from your investment otherwise profits in an asset like bitcoin isn't going to be liked a lot by the investors.

My main concern here is no matter he sells his bitcoin or not at the end of the day he by telling people that this and that coin will go moon is making crypto more speculative it's just showing people that crypto is a place to mint quick money and not an alternative financial system. Just making meaning less memes on doge and pumping it hard is sheer foolishness even if he hasn't sold it till now

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April 27, 2021, 07:26:40 PM
 #20

~
Well he could be a single person, but his words could influence a lot of people to decide whether to buy more or sell more.
Sometimes it is not the celebrity itself that manipulates the market, but rather how one's words could influence a lot of people just because they think that they should decide the same just because someone has a lot of wealth not knowing that it doesn't apply to cryptocurrency

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