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

[Argoo]

If the decline has to be sharp first because of the sale of 75% of Testa's ownership, then why not? we prefer Bitcoin split in the hands of small traders or investors who still believe in Bitcoin. Companies like Tesla can do whatever they want to sell whenever they want without needing to make a statement in the media. How about Tesla loudly announcing that he has sold 75% of his Bitcoins? Isn't this a game? imagine Elon now in the long case about Twitter, and Tesla selling Bitcoin. It could be that all have a connection that Elon's finances are at stake. Being exposed to liquidity on a loan doesn't mean it's impossible.

I just don't see the point of Elon Musk's Tesla selling 75 percent of its bitcoins for such a low price of $29,000 when those bitcoins were purchased at a much higher price earlier. These are hundreds of millions of dollars in losses. Does Elon Musk no longer believe that the price of bitcoin will rise much higher over time? Or did he urgently need large sums of money? I don’t think that the company’s financial affairs are so bad that the only way out was to sell bitcoins. I would like to hear his comments on the bitcoin sale.

[Sithara007]

I just don't see the point of Elon Musk's Tesla selling 75 percent of its bitcoins for such a low price of $29,000 when those bitcoins were purchased at a much higher price earlier. These are hundreds of millions of dollars in losses. Does Elon Musk no longer believe that the price of bitcoin will rise much higher over time? Or did he urgently need large sums of money? I don’t think that the company’s financial affairs are so bad that the only way out was to sell bitcoins. I would like to hear his comments on the bitcoin sale.

Elon probably doesn't care. Tesla shareholders need to pick up the bill. Although Elon Musk is the biggest shareholder, he owns only around 17% of the total shares. Even if we assume that the loss from this sale is in hundreds of millions of USD, given his net wealth ($253 billion), it is a minuscule amount for him. He has been making statement against Bitcoin on a regular basis for the last one year or so, and to be frank I was expecting this step sooner or later. His statement was interesting. He claimed that Tesla sold 75% of its BTC, but it hasn't sold any of the DOGE. Once again, it looks to me that he wants to pump the DOGE shitcoin at the expense of BTC. Not going to work.

[naira]

I just don't see the point of Elon Musk's Tesla selling 75 percent of its bitcoins for such a low price of $29,000 when those bitcoins were purchased at a much higher price earlier. These are hundreds of millions of dollars in losses. Does Elon Musk no longer believe that the price of bitcoin will rise much higher over time? Or did he urgently need large sums of money? I don’t think that the company’s financial affairs are so bad that the only way out was to sell bitcoins. I would like to hear his comments on the bitcoin sale.

Elon probably doesn't care. Tesla shareholders need to pick up the bill. Although Elon Musk is the biggest shareholder, he owns only around 17% of the total shares. Even if we assume that the loss from this sale is in hundreds of millions of USD, given his net wealth ($253 billion), it is a minuscule amount for him. He has been making statement against Bitcoin on a regular basis for the last one year or so, and to be frank I was expecting this step sooner or later. His statement was interesting. He claimed that Tesla sold 75% of its BTC, but it hasn't sold any of the DOGE. Once again, it looks to me that he wants to pump the DOGE shitcoin at the expense of BTC. Not going to work.

Sounds reasonable because until now he has not made another tweet about this Shitcoin Doge. So it's not surprising to see how he plays the market cycle and tries to make people worry about his holdings. Elon Musk is a businessman and the concept of a businessman must be able to know the market situation very carefully.

[Haunebu]

Elon Musk is easily one of the most fickle characters that I have observed over time. If he could plan on purchasing Twitter and back out later on, supporting BTC and withdrawing his support later on isn't a big deal at all in comparison.

He isn't a good person with a black heart based on everything that I have heard about him, but he is a genius when it comes to business which is why I don't think he took these decisions on a whim.

Fact is that he simply manipulates the cryptocurrency market for his own gains now and then.

[livingfree]

Apparently, Mr. Elon Musk would like to get rid of everything that links him to the crypto field. He has given up Twitter, which was generating a lot of money on him due to his supportive tweets for the Dodge currency, and he is selling all his Bitcoin savings at a very low price compared to the best levels he reached recently.

He also likes to troll the internet. Although there are serious topics that he's joining this guy is the richest. He can do everything he can and things that are simple for him and his Tesla company is already extraordinary for commoners like me.

And that's why these media are taking advantage and raking money on it by making it as news that shocks the world. I don't know if it still shocks us to know what this guy is. But by the looks of a no-coiner, this is shocking to them and is going to mock us that are still holding.

They do have the finances, the money/riches, the reputation, the popularity and the power which simply means that they could all the things that they do like or whats up into their minds and mocking might not be that
right to make out some assumptions but who knows that he might be just smiling and laughing on his mind which seeing things around that he had been playing on.  

Market is composed of different industries and as a billionaire where you would normally be diving on things which you know that you could really benefit from which crypto space isnt an exemption
and now he had made out some purchases back in the past and now making some sell-off? its his full rights but people are really that serious on whining and crying on what he had done.

I've seen some argument that told that it's not him that sold but it's the company. Well, I've thought to realize that they're right but eventually, I've also realized that he owns it.

He got dictatorship on those companies that he owns.

If they've got stocks of bitcoin, they can sell it at their will or even Elon's since he's the one who owns it.

[Synchronice]

He's got enough money and influence and brains that he could actually move humanity forward just a little bit, and I'm not sure why he's playing these stupid games with the media.  Ugh.

Elon Musk is a man with ambitions and big brain and balls. I think he gets huge dopamine rush by manipulating things the way he wants. How would you feel when you have the power to tweet any craziness and millions of people all over the world follow your words like an order? Musk has such an influence that even if he officially tweets that religions don't exist, a lot of people will seriously follow him. Musk has created a cult around him and influenced the world, he probably looks himself like a god. Can a billionaire get more fun than this?

I think his motivations are more related to make a good relationship with American government.

He received about 7billions USD from government subsidies, tax breaks and loans. As American government isn't really a bitcoin fan, as they see bitcoin as "bad for enviroment", I believe those are the main Musk motivations.

https://www.grid.news/story/technology/2022/04/30/elon-musk-hates-the-government-his-companies-love-it/#:~:text=Tesla%20and%20SpaceX%20have%20received,electric%20vehicle%20credits%2C%20Grid%20found.

Tesla and SpaceX have received more than $7 billion in government contracts alone and billions more in tax breaks, loans and other subsidies, an analysis by Grid found. In recent years, Tesla has sold at least $6 billion worth of government-backed electric vehicle credits, Grid found

This sounds logical to me

[Leviathan.007]

Regarding Tesla selling some big share of the bitcoins I recently saw many other news and articles and some of them leave we cannot be sure if they really sold the bitcoins or not because we all know there are still some regulation issues about bitcoin and maybe tesla just aid that to stay away from the possible issues also this can be a piece of news from the Elon Musk's company to spread some sell new and put bitcoin under pressure to fall more especially during this time. But even if they sold the bitcoins, I leave they got enough profit from it otherwise they would do such thing ever.

[el kaka22]

Elon Musk has a long variety of bad things done in his life, dude has done so many bad things in his life, it could literally be a book lengthy if you just list them item by item, and yet everyone loves him because he took over a good company.

I mean I get it, without him Tesla wouldn't be this big, he spent money on it, but let's also realize that this guy has absolutely zero idea on how to build a car, not an electric, but ANY car, he has general knowledge like you would if you spent time in a car company for a decade, but that's about it, he is not an engineer. And he is out there trying to talk about like how he did something, he did NOTHING but just spent money, that's it.

[ultrloa]

Apparently, Mr. Elon Musk would like to get rid of everything that links him to the crypto field. He has given up Twitter, which was generating a lot of money on him due to his supportive tweets for the Dodge currency, and he is selling all his Bitcoin savings at a very low price compared to the best levels he reached recently.

He also likes to troll the internet. Although there are serious topics that he's joining this guy is the richest. He can do everything he can and things that are simple for him and his Tesla company is already extraordinary for commoners like me.

And that's why these media are taking advantage and raking money on it by making it as news that shocks the world. I don't know if it still shocks us to know what this guy is. But by the looks of a no-coiner, this is shocking to them and is going to mock us that are still holding.

They do have the finances, the money/riches, the reputation, the popularity and the power which simply means that they could all the things that they do like or whats up into their minds and mocking might not be that
right to make out some assumptions but who knows that he might be just smiling and laughing on his mind which seeing things around that he had been playing on.  

Market is composed of different industries and as a billionaire where you would normally be diving on things which you know that you could really benefit from which crypto space isnt an exemption
and now he had made out some purchases back in the past and now making some sell-off? its his full rights but people are really that serious on whining and crying on what he had done.

I've seen some argument that told that it's not him that sold but it's the company. Well, I've thought to realize that they're right but eventually, I've also realized that he owns it.

He got dictatorship on those companies that he owns.

If they've got stocks of bitcoin, they can sell it at their will or even Elon's since he's the one who owns it.

Funny do they realize who owns the company?  Maybe those guys is a die hard fan kid of Elon Musk and even if they see some bad things their idol do they still ignore thia and continue to hail his name.

And for sure people will not care if he sells or not because many already knows that he is not there to support bitcoin but rather he is there to manipulate then make it as his milking cow.

[ivankoh]

But even if they sold the bitcoins, I leave they got enough profit from it otherwise they would do such thing ever.

Yeah, agree
Elon has never given up on his idea of ​​a "loyal" approach to bitcoin, he's just transformed the opportunities from the value he and Tesla can create.  I think Elon definitely understands that and he's just taking full advantage of his value and position for the purpose of making money so I don't doubt they sold bitcoin

[virasisog]

But even if they sold the bitcoins, I leave they got enough profit from it otherwise they would do such a thing ever.

Yeah, agree
Elon has never given up on his idea of ​​a "loyal" approach to bitcoin, he's just transformed the opportunities from the value he and Tesla can create.  I think Elon definitely understands that and he's just taking full advantage of his value and position to make money so I don't doubt they sold bitcoin

Elon is wise enough to handle his investments. Since it's amounting to multimillion dollars, he wouldn't sell it without making a profit. He's too smart to sell without making a profit. I'm sure that he has other plans or might as well he's just releasing statements to manipulate other investors for his own benefit again.

[Silberman]

Elon Musk is easily one of the most fickle characters that I have observed over time. If he could plan on purchasing Twitter and back out later on, supporting BTC and withdrawing his support later on isn't a big deal at all in comparison.

He isn't a good person with a black heart based on everything that I have heard about him, but he is a genius when it comes to business which is why I don't think he took these decisions on a whim.

Fact is that he simply manipulates the cryptocurrency market for his own gains now and then.

We must simply accept this for what it is, Elon is only interested in making money with his investments and there is nothing wrong with that, he is not someone like Saylor which seems to genuinely believe in bitcoin and its future, so the fact that Elon is now selling his bitcoin should not surprise us at all, if anything this is something a lot of us saw coming as he never gave the same aura of confidence Saylor gave, and now we are finally realizing we were right all along.

[kaseygriffin]

It's also not surprising that they are advocates of the short time frame to check profits, and they don't really maintain it for the long term. Like many investors, people need to sell to make a profit or cut their losses, so looking at Elon, I have nothing to say. And just as many people have benefited from the BTC price increase, I also think that the opportunity it offers is not for everyone. Those who seize it will have more happiness.

[Darker45]

I think Elon has never really been a big Bitcoin fan. And I think it wasn't really felt by the community that Elon has got their back. He indeed purchased Bitcoin but it was seemingly more of a diversification tactic to probably protect his money's value than a sincere appreciation of the technology. This was kind of reinforced when he believed in Bitcoin's critics regarding the contentious energy issue. And then there was also the subsequent decision of halting the acceptance of Bitcoin payment in Tesla.

Anyway, at least with Elon already dumping a big majority of his Bitcoin portfolio, we're already more or less freed of anxieties of when this unstable whale suddenly shakes the market when he finally sells.

[Taskford]

Elon Musk is easily one of the most fickle characters that I have observed over time. If he could plan on purchasing Twitter and back out later on, supporting BTC and withdrawing his support later on isn't a big deal at all in comparison.

He isn't a good person with a black heart based on everything that I have heard about him, but he is a genius when it comes to business which is why I don't think he took these decisions on a whim.

Fact is that he simply manipulates the cryptocurrency market for his own gains now and then.

We must simply accept this for what it is, Elon is only interested in making money with his investments and there is nothing wrong with that, he is not someone like Saylor which seems to genuinely believe in bitcoin and its future, so the fact that Elon is now selling his bitcoin should not surprise us at all, if anything this is something a lot of us saw coming as he never gave the same aura of confidence Saylor gave, and now we are finally realizing we were right all along.

The pressure to remain at the top richest man on planet is so high so he need to find multiple sources of income to retain this and he find an opportunity to gain millions of dollars in crypto so for sure he will continue his stint on bitcoin to gain more money with it. And we cannot expect him to give his 100% support on bitcoin because he surely here to gain not for the new technology offered by cryptocurrency industry.

[PrimeNumber7]

Eventually he slowly gave up on something (bear market pressure maybe), I expected this. At least a large number of bitcoins are no longer owned by an influencer and hope to be more distributed although for now I'm more convinced that bitcoin is still under the ownership of the p2p company where he cashed the bitcoins.

He said Tesla did this to get more cash for these terrible market conditions. <>

I believe the specific reason they gave was due to supply chain issues, specifically from China, due to Covid lockdowns in China.

Musk also said that Tesla would consider owning bitcoin in the future if it aligns with their financial condition.

With the crypto winter and BTC prices looking bearish, Tesla CEO and Space X founder, Elon Musk has shipped off 75% of his shares in Bitcoin. This news comes as a surprise after his proclamation in March where he was adamant on selling his coins.

Musk did originally say that Tesla was not going to sell any coin they received from customers for purchasing Teslas, but I don't think he specifically mentioned the coin from their original investment. In any case, Tesla's situation changed, and the economy changed, so Tesla had to take steps to protect its financial situation from deteriorating

[AndySt]

I think Elon has never really been a big Bitcoin fan. And I think it wasn't really felt by the community that Elon has got their back. He indeed purchased Bitcoin but it was seemingly more of a diversification tactic to probably protect his money's value than a sincere appreciation of the technology. This was kind of reinforced when he believed in Bitcoin's critics regarding the contentious energy issue. And then there was also the subsequent decision of halting the acceptance of Bitcoin payment in Tesla.
Anyway, at least with Elon already dumping a big majority of his Bitcoin portfolio, we're already more or less freed of anxieties of when this unstable whale suddenly shakes the market when he finally sells.

Well, Musk is rather the background of the dogecoin than bitcoin, and as far as I know, Tesla did not get rid of them and left all the savings in the meme critical currency intact. Even if there was or really is a bitcoin fan, this does not mean that bitcoin is more expensive for him than Tesla, thanks to which all the greatness and success of Musk's entire business empire is based. Everything is situational here, the cryptocurrency exchange rate clearly does not show an upward trend, but on the contrary has fallen significantly, and I fully trust Elon's own explanations that the company urgently needed cash as a reserve due to the pandemic history. By the way, Musk still has not renounced bitcoin investments and all this only says that Musk does not yet believe in the next sharp rise in the bitcoin exchange rate.

[MCobian]

I think Elon has never really been a big Bitcoin fan. And I think it wasn't really felt by the community that Elon has got their back. He indeed purchased Bitcoin but it was seemingly more of a diversification tactic to probably protect his money's value than a sincere appreciation of the technology. This was kind of reinforced when he believed in Bitcoin's critics regarding the contentious energy issue. And then there was also the subsequent decision of halting the acceptance of Bitcoin payment in Tesla.

Anyway, at least with Elon already dumping a big majority of his Bitcoin portfolio, we're already more or less freed of anxieties of when this unstable whale suddenly shakes the market when he finally sells.

I realize Elon Musk is not a Bitcoin supporter, when he manipulated Dogecoin for his own benefit. This means that Elon Musk will do whatever it takes
to make him richer, in the end Elon Musk only cares about money matters. After all, Elon Musk is indeed famous as an entrepreneur who can use
anything to make a profit, just like when he bought Bitcoin, he indeed from the beginning seemed to just want to make a big profit from Bitcoin.
So if Elon Musk finally decides to sell his Bitcoins it's not something that comes as a surprise to me. Because Elon Musk would have sold his Bitcoins
if he felt it was time to make a profit, I'm sure Elon Musk must have planned everything well. So no wonder he became one of the richest people
in the world, because he knows how to make big profits.

[hatshepsut93]

Musk's actions with bitcoin, dogecoin, and Twitter are perplexing to me--it's as if he's showcasing what would happen if you gave a malicious internet troll billions of dollars and told him to have at it.  But unfortunately there are a lot of people who hang on his ever word.  Just look at all the people who bought dogecoin because he tweeted about it; I've see quite a few YT vids related to that, and I'm sure for every one of those there are a hundred other people who never made it public they bought doge on the Musk hype.

This is the new reality we live in, the megalomaniacs now can instantly communicate with the world 24/7, instead of making press statements like in the old times. There's no one in the loop who could talk them out of saying stupid things, no one to provide context or commentary, just a direct connection with their audience.

Crypto community and Musk are perfect for each other, both are focused on hype rather than results. If a billionaire can convince people with a few tweets that a shitcoin has value, this just means that crypto market doesn't care about fundamentals, it's just a casino for redistributing wealth.

[Spack17]

Since cryptocurrencies are currently in a period of decline, it is normal for such a situation to follow. if he sold more than $29k worth of bitcoin, he has made a profit now. Elon Musk is an ambitious and strong man. I think he make a lot of money from this market. That's why he never leaves the market. After the values of crypto currencies drop a little more, he will start buying again.