Surprisingly, Elon's Tesla is not so keen on hodling BTC anymore

[Wind_FURY]

I believe companies listed in the stock market are required to report their market investments, but it doesn't mean they should report it on the day they made the move. I think they have a required schedule when they should be filing to the SEC, then reporting what they did for the quarter.

Elon Musk has enough legal problems from his failed bid to buy Twitter, I don't believe he wants more problems from the SEC for market manipulation. Hahaha. Everyone currently hates Elon Musk that they're looking for something wrong in his every move.

Musk is playing with market ....I believe one should be as influential as Musk - his one word can move the market upside down.

This is how fortune favors some daring people and Musk is one of them - more power to you man

No, I believe NOT. His "one word" could move shitcoins like Dogecoin, or it might move Bitcoin for one hour, but the market always prices information in. Elon Musk will become irrelevant, HAS ACTUALLY become irrelevant to Bitcoin and the market in general, than when Tesla announced their sale of their Bitcoins, the market didn't react negatively. In fact, it reacted positively. Bitcoin is higher than Tesla's sell price.

[Semar Mesem]

Long before Elon Musk cryptocurrencies were big, the growing global community proved that when Tesla sold bitcoin stock but the market didn't turn red, the price just kept going up and this is proof that whatever Elon Musk does is not reacted too much by the market.

[ChiBitCTy]

Elon musk may be the richest man on the planet, but as in terms of calling the man a genius, or thinking his word on bitcoin or cryptocurrency has much of any real value is foolish. The guy absolutely does not really understand how cryptocurrency works. He certainly doesn’t understand cryptography. This move didn’t make sense in my eyes, they’d have been better off hodling long term.

[lixer]

Musk is playing with market ....I believe one should be as influential as Musk - his one word can move the market upside down.

This is how fortune favors some daring people and Musk is one of them - more power to you man

No, I believe NOT. His "one word" could move shitcoins like Dogecoin, or it might move Bitcoin for one hour, but the market always prices information in. Elon Musk will become irrelevant, HAS ACTUALLY become irrelevant to Bitcoin and the market in general, than when Tesla announced their sale of their Bitcoins, the market didn't react negatively. In fact, it reacted positively. Bitcoin is higher than Tesla's sell price.

He has become irrelevant because of the fact that he is not tweeting about it anymore. But, if he starts doing that again and again like crazy, then he will probably make the markets go crazy too. I know that it is not something we should look forward to, I dislike the guy as much as the next person and even though he created two companies that are amazing, he just took over them and not the actually founder of these companies at all, he is just the investor to them and nothing more.

In the end, he has power, we do not want him to have that power but unfortunately, he does have that power and that makes things a lit bit difficult for people like me and you.

[Sanitough]

Pretty easy decision for him and I think maybe some of us had so this coming. Obviously, it has something to do with the current state of the market and maybe he knows that he is going to lose money short term. So as a businessman, he has to shift and keep moving his money around so that it will still grow despite the current recession that we are having. So I'm not surprised, but I don't think this is an attack to bitcoin coming from him, just a business move, in my opinion.

Elon is smart, so he won’t sustain seeing his investments falling where it should be going forward. More like he wants to see his investments keep on generating an income, and I think bitcoin can’t do it for now. However, I believe Elon will buy back again when he sees opportunity to buy at its best price. Selling majority of his bitcoin does not mean he’s leaving the crypto market, as I bet he’s hodling a lot of dogecoin way back then. And definitely, his act of selling will never leave a huge negative impact on bitcoin market either.