Elon Musk statement on his Bitcoin holding

[arwin100]

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.

obviously he made a lot of people wonder, because what he said did not match the reality that was done with his Tesla company, when at that time everyone knew that Tesla company had bought a lot of bitcoins, but at this time he said he did not have bitcoins. and it seems what you say is very true why he did not sell his bitcoins and only sells 10% of the tesla, what he did is clearly something strange and maybe there is a specific purpose.

The purpose is they don't want people to get panic after tesla is selling their bitcoins and made a profit on it, they want people to hold since if major panic will happen after their actions made they will lose millions dollars on their accounts. So be careful on believing if they want to hype it and always take your profit if there's a chance don't hold because Elon or other influencial people hype it.

[teosanru]

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.

Firstly, He has clearly said once as I remember that he is holding some dogecoins for his Child so that Indirectly means that he does hold some dogecoins at least. Secondly, If he would have done it once or twice I still would have agreed with you on this thing, but consistently tweeting some bullish memes about dogecoins doesn't seem to me like an irresponsible act. Moreover, why would he unnecessarily draw the attention of various government agencies to his crypto holding by declaring online that how many doge coins he holds.

Here is the link to his tweet : https://twitter.com/elonmusk/status/1359519541219500033?s=20

[pixie85]

I like how he says tesla did something like he wasn't behind that move.

I fully understand that Tesla is a company managed by a group of people and financial investments have to go through a vote but Musk's opinion has a lot if not the most value there so it's not like Tesla did something, it was Musk who ordered it. The only difference between his personal sales and Tesla sales are that Tesla sale had to be cleared by the board before it happened but in both cases the idea to sell came from Musk.

[Rengga Jati]

It is real that what Elon Musk says always gives a certain influence to crypto.
From what he said, I believe that he hasn't sold any of his Bitcoins, but he also admitted that Tesla did.
Elon may be the owner of Tesla. But he and Tesla are still different. Tesla is however a company in which there are some certain interests that make them decide to buy and sell Bitcoin at a certain rate. And this is not absolutely the decision of Elon, but the decision of the Tesla Company. There were many parties involved, not just Elon himself.

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.

Haters will gonna hate, will never stop.
I personally prefer to take the advantage of what Elon Musk does and also consider about what may negative sides of his statement and action in crypto. S, we can still be wise and careful enough in responding to what a public figure states, not really always believe 100%, but always do more research again about it and not only following the hype because of it.

[karanggatak]

distinguish personal investment from corporate investment, what Elonmusk said is very clear and true so in my opinion, don't panic if there is news that Tesla is selling some of its investment in bitcoin because Tesla is a large company that needs profit to develop its company to grow.
after all, 10% of Tesla's total investment is only a small part of his total assets in bitcoin so don't worry bitcoin still has a bullish potential to the new ATH.

[Questat]

I like how he says tesla did something like he wasn't behind that move.

I fully understand that Tesla is a company managed by a group of people and financial investments have to go through a vote but Musk's opinion has a lot if not the most value there so it's not like Tesla did something, it was Musk who ordered it. The only difference between his personal sales and Tesla sales are that Tesla sale had to be cleared by the board before it happened but in both cases the idea to sell came from Musk.

If he owes a big share in Tesla, he can still manipulate the whole team. And behind this Bitcoin adoption is might be his opinion and decision as well.
Elon Musk is a very successful person and this is how people being easily influenced by his words. He brings Tesla into the crypto world, he is no doubts about taking the risk because he knows that there is a bright future here.

And I believe that Elon doesn't just invest in Bitcoin and Doge, but probably he also invests in other altcoins.

[Shasha80]

distinguish personal investment from corporate investment, what Elonmusk said is very clear and true so in my opinion, don't panic if there is news that Tesla is selling some of its investment in bitcoin because Tesla is a large company that needs profit to develop its company to grow.
after all, 10% of Tesla's total investment is only a small part of his total assets in bitcoin so don't worry bitcoin still has a bullish potential to the new ATH.

I believe that Elon Musk actually wants Tesla not to sell the Bitcoin that they have, but because Tesla is a large company that has investors other
than Elon Musk. So Elon Musk does have to accept Tesla selling 10% of the Bitcoin it owns. If we think selling 10% is not something to worry
about. Besides, I am sure that if the price of Bitcoin corrects again Tesla will buy more Bitcoin when the price is low. So there's no need to panic
about Tesla selling their Bitcoin.

[Zemomtum]

This is a statement that will be difficult to ascertain the truth. He can sell high and buy the dip, this kind of statement is just to be a defence mechanism. He is a businessman and profit will be his first goal

[finaleshot2016]

So, Elon Musk's shilling for bitcoin continues, which is a good thing because it means that other institutional investors will jump on board and pump the BTC price again. However, IMO, this is just like a defi degen, where pump and dump schemes can happen because he's a big player in the crypto market.

Still, I assume he can hold it for a longer period of time, and I can't blame him if he makes a profit during that time, as we are doing the same thing. Everyone is riding the pump they're doing, if we lose then it's our fault for riding the hype train without $DYOR. 

[Rruchi man]

It is common knowledge that It is quite easier for a man with little financial challenges to hold on to his investment (say bitcoin) through the highs and lows without even thinking of shedding off a little quarter to solve some problems.  Elon Musk's is a wealthy and influential individual whose major problem is no longer finance, for reasons like this, there is a high possibility that his claims are true.

[just_Alice]

I just recently learned about this liquidity stuff, though it might be just a quick excuse for what Tesla is doing.
If the initial purpose was to attract even more investors, then it's actually good and will have a positive impact on Bitcoin adoption. However, to make a strong point on Bitcoin's liquidity shouldn't Tesla constantly buy and sell Bitcoin instead of doing it just once? But maybe the company will do so, we don't know what will happen in the future.
On the other hand, let's not forget that Musk owns around 23% of Tesla shares, which means he definitely made a profit out of this too.

[masphie]

Many things made the price of bitcoin fall, and many also spread the issue of the falling price of bitcoin.
We can believe it or not about Elon's twitter reply (unless Elon provides evidence of his statement).
But we shouldn't panic, because the crypto world is like this (price ups and downs are common)

[Timelord2067]

I don't suppose you could post a link to the original tweet?  Most people at the moment have the classic FOMO surrounding bitcoin and crypto in general.  Bitcoin and altcoins to a large extent were created as a means to make electronic transfers / payments securely via a one way system with the block-chain / ledger as proof of that payment.

It's a technicality to say "Tesla" sold the bitcoins after it's owner/creator talked up the price.  It's another thing entirely to hold coins just for the sake of HODLing them as he is doing.  After all, there was a price surge a couple of years ago when ransomware demanded payment in bitcoin prompting companies to go out and buy BTC on spec just in case they were attacked.

I wonder how many & where those coins are now?

[chaoscoinz]

Even if Musk did do it, what could anyone possibly do to stop it? Bitcoin is valuable, so that means any one with enough Capital can buy in indefinitely. I'd like to remain optimistic though, and do believe in the original dream of the block father, and founder, Satoshi Nakamoto Son. There's a glimmer of hope that shines a the end of the tunnel, and even if Bitcoin doesn't survive the future, I'm certain another Blockchain project that shares a similar ideology as Bitcoin will.
   I'd like to think Ethereum being the lead coin within the future, as Bitcoin has already set the standard.

[Nivia1st]

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.

yes you're right, he just wanted to prove that bitcoin liquidity is good enough as an alternative to saving money. he had no plans to destroy the market. Elon knows that if the market crashes her investment will only lose. after all it's only 10% of his total investment and he still holds the remaining 90%.

[Teslon]

Elon musk never sell there bitcoin I'm 99.09 Sure

[Xinarae*]

Elon Musk never sells bitcoin but Elon Musk's two decisions took bitcoin to record heights. The world's largest cryptocurrency market has been on the rise since investing in bitcoin on top of that Tesla the electric car maker of Musk has recently decided to pay for bitcoin from buyers bitcoin has gained more momentum the world economy collapsed during the time of covid. At that time the prices of other cryptocurrencies including bitcoin also went down however, as soon as corona's push subsided the upward race started again.

[davis196]

Dave Portnoy is just another guy claiming that Bitcoin is some sort of "tulip mania" ponzi scheme.
"Last one HODLing Bitcoins"? What if there's no "last one"?What if people keep buying and selling Bitcoins until the end of human civilization?I know that there's a big possibility that Bitcoin might not survive in the next 20 years,but technology evolves and improves.Maybe Bitcoin in 2030 will be better than Bitcoin in 2021.Who knows?

[rodskee]

That's a clear statement mate and i think enough for us all to treat Bitcoin as a Gentle and promising asset , If Elon can say this for clarity then why not believe it?

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.

The thing is you cannot Blame them because

-First Elon is at some what trolling the market.

-Second His is one of the biggest Investors that open Bitcoin to big businesses .

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?

Proving about liquidity is enough answer , because if He really did sold all the bitcoin in His pocket? surely market is already dumping really hard now because maybe Paypal will do the same thing.

[Mahanton]

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?

Of course He wont really be accepting those words but rather deny that its for prove of liquidity as he say but who knows behind the curtain? You wouldnt know on whats up to his mind
but if Elon did really mean on what he said then he has a point and lets see if there would be some future sells on where Tesla had bought but honestly, who we are to stop them on doing so?
Its their bitcoin holding and its their money that had been spent so they do have the full rights whenever they do sell on.