Elon Musk statement on his Bitcoin holding

[Review Master]

That he is still his 90% investment of bitcoin holding. He just sold 10% of his nvestment. What is your opinion?

Just to clear that it won't right to use the word 'his hodling' or "He" as Elon is just CEO of that company and he don't have any control over those institutional investment. The correct thing is, "Tesla as a company to show their quarterly revenue,  sold 10% of their hodlings, not Elon Musk. Also, 90% from the whole investment of Tesla is still on hodling, not 90% investment of Elon. Hopefully, OP get this now and edit this so that others don't get the wrong idea.

BTW, CFO of Tesla said that they're happy to get quick liquidation of BTC when they bought as well as sold some of that. That means, more institutions will buy more BTC as they always had the wrong idea that BTC don't have huge liquidation for institutional trades.

[hatshepsut93]

Just making meaning less memes on doge and pumping it hard is sheer foolishness even if he hasn't sold it till now

There's no proof that Musk holds any DOGE, and from what it looks like, he never actually had any intention to pump this coins. He just posted memes about Dogecoin, because he posts all sorts of memes all the time, and crypto speculators decided that it's a good reason to buy Doge, so the price went up and it started a feedback loop: more price growth -> more memes & attention -> more price growth

You could say it's irresponsible from Elon to tweet about Doge, but I doubt he has any malicious or selfish intentions.

[yhiaali3]

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

Of course, Elon Musk has become one of the characters that affect the crypto world in a big way, one tweet about the Dogecoin made thousands of people buy the coin madly and its price increased fabulously.
What I mean here is that Bitcoin is not like a Dogecoin or the rest of the cryptocurrencies, Bitcoin is stronger than all of these and more powerful than one person or even a large group of companies can affect it. All governments have worked against Bitcoin from the beginning, but they could not stop it and they certainly will not be able On it in the future.

[DatKing]

Not HIS investment, it's Tesla's investment 10% of which was sold. And I'm not very sure about believing his reasoning for this sell. I will observe the company's movements about its BTC investment in the coming weeks, months etc. and then decide whether he is honest about it. Because it's an investment in the end and they could sell more of it, of course.

[Oasisman]

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?

Kinda considered that way, when you're very wealthy and trying to prove anything by either selling or buying.
He has not personally declared how much he estimated have invested in Bitcoin and other alts.
Tesla is a business he could use as an excuse to execute a market experiment.
Well, I could be wrong here. Just a mere speculations. As he said Tesla only wants to prove Bitcoin's liquidity.

[Welsh]

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?

I'd assume he knows exactly how easy it was to sell Bitcoin. Tesla, and Elon are separate entities.  Yeah, they are linked, but as far as I'm aware its considered a separate entity. In the UK we have limited companies, which are created to reduce the liability of the owner, and I'm assuming American businesses have a similar sort of system.

Yeah, you should probably consider anything coming from the mouth of a billionaire as market manipulation. It doesn't mean that its accurate, but its something you should probably assume to a certain degree. He's successful because hes an incredible businessman. So, anything he says has the potential for personal gain.

[Reosta_]

Tesla could even sell all of their investment and nobody can say a thing about it. In the end, they don't have to HODL it. But it is really frustrating to see that Bitcoin price is so easily manipulated by these things. When they sell, the price falls and vice versa.

[Ridwan Fauzi]

I heard the other statement from Elon Musk that all payment that collected from some crypto user who bought tesla car using bitcoin will never be cashed, but now he just told that he has sold his holding from tesla.

I mean, yeah that is the bad thing that must know by most crypto user. There is chance for bitcoin crash a lot since there are so many instutional investor who hold bitcoin just because they are following Elon Musk suggestion.

[SaShiRaJaVu]

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.

So basically what you are trying to say, since Elon Musk sold his company assets there is nothing that would affect the market. Either it is Musk or his company and if they are holding billions of dollars worth of bitcoin then they can crush the market if they start booking their profit.
Elon Musk can do anything with his money and his bitcoin holdings what i cannot understand is why he wants to register every move in social media.

[target]

There's always going to have assumptions that he would sell or have sold no matter what he would say though. And it's not worth it for him to also publicly expose his BTC address to prove it either but it's also going to be assumed that he sold his billions of Doge.

Its not going to matter because there is nothing anyone could do if he would sell. Are we going to condemn him for taking profit?

[Alucard1]

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?

You misunderstood what Elon Musk has said on his Twitter, he told that he did not sell any of his bitcoin, Tesla is the one who sold 10% of their bitcoin investment. A lot of people thinks that Elon Musk is just manipulating the market by just doing such things as what some are thinking but with this tweet hoping that things are now clear, but still no one knows that he is really saying the truth about his investment, we cannot believe by just a single tweet.

[RESIN2011]

Tesla has BTC listed as "digital assets" on their balance sheet. Elon has not disclosed the amount of BTC he personally holds.

[MAK400]

Elon Musk stated in a tweet that he did not sell his frozen bitcoin.  It is unknown at this time what he will do after leaving the post.  But for now, the cryptocurrency market is doing fairly well.

[btc-room101]

There's always going to have assumptions that he would sell or have sold no matter what he would say though. And it's not worth it for him to also publicly expose his BTC address to prove it either but it's also going to be assumed that he sold his billions of Doge.

Its not going to matter because there is nothing anyone could do if he would sell. Are we going to condemn him for taking profit?

Yes,

HODL is to love god

Selling Bitcoin is to hate BTC, to hate btc is go hate god

I find it fascinating that more people step forward to defend Musk, than BTC any day in the normal HODL-vs-HATE meme war

I'm going to guess that MUSK owns more bots for his defense, than any other bot army on this forum

MUST is TSLA he makes all the decisions, to suggest that TSLA & MUSK are divorced is stupid

Musk said he sold $100M after he said he sold none, financial press said he made $272M profit, so he obviously sold more than $500M

Just a week ago in Texas the car that crashed and killed two, Musk said the auto-pilot was OFF,

Musk is a habitual liar, but who cares right?

Lastly, TSLA 1st quarter report shows a loss, had he NOT bought BTC at the low, and sold at the high, TSLA stock would have tanked. So now Musk makes all his money trading crypto's to float his failing company's. This is not a new story. DeLorean did this years ago with Cocaine.

[nightxglow]

I think we should just believe his statement. If he really said that he didn't sell his bitcoin, then it might be it. The price of bitcoin is still high as well, and i don't see why Elon want to crash the market, i don't think he want to ruin bitcoin when it's still so profitable like this. I bet he will keep it for long and gain more profit. And also, although tesla sold their bitcoin, they still hold a huge amount of bitcoin, and it will be very funny if they're talking about adapting bitcoin then sold it right? people will just lose trust and curse them. I bet they know that and won't do anything stupid.

[10_sjdovn_10]

Did this news cause the price to rise? If so What percentage of this message affected the price?

[goldade]

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?

As much as it is true that Elon Musk has so much influence and could, sometimes, make tweets that could move the market, so to say. I still believe that he actually didn't have any control over the markets. In situations, where his tweets caused the market to move in a certain way, I realised that he only played on the emotions of people. He actually didn't ask them to dance to the tune he played. They did that on their own accord.
Secondly, we should know that Tesla and Elon Musk's holding of bitcoin are separate and different. I do not think Musk sold his bitcoins

[TastyChillySauce00]

Tesla could even sell all of their investment and nobody can say a thing about it. In the end, they don't have to HODL it. But it is really frustrating to see that Bitcoin price is so easily manipulated by these things. When they sell, the price falls and vice versa.

Yeah they are company seeking profit and the only reason they bought bitcoin in the first place is because they want to make profit either by holding it long term or short term it's all already planned beforehand. The market itself being influenced by big company like that dumping is kinda normal I think. There have been history of stocks that got influenced or manipulated by big investors so it's not really good to blame the bitcoin market of easily being manipulated meanwhile the very same thing has happened to other investment instrument.
But what baffles me though, elon says it's tesla that sold the btc, but we don't even know whether he's holding some amount of btc or not.

[Kayum10029]

Tesla has BTC listed as "digital assets" on their balance sheet. Elon has not disclosed the amount of BTC he personally holds.

Elon musk already tweeted his Twitter account that he didn't any bitcoin and already sold 10% tesla . But why he didn't sell his Bitcoin? May be an another smart trick of Elon musk in cryptocurrencies market.

[hazenyc]

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.

Also, the point he made is all but against Bitcoin. He said he wanted to prove (or Tesla wanted to prove) that Bitcoin is liquid enough to be a viable alternative for holdings on the balance sheet. This is true because the financial crisis was a liquidity crisis because of fire sales. Tesla easily liquidated 300 or so million without crashing the price. That's hit point and it's a good point in favor of Bitcoin.