Elon Musk sets the story straight on the TSLA BTC sales...

in #bitcoin5 months ago

Elon Musk and TSLA sell bitcoin, they must hate it! Not so fast...

The mainstream media has been running with the story that Elon Musk is exiting bitcoin.

They have been printing headline after headline of TSLA giving up on their bitcoin bet etc.

However, things aren't always what they seem...

TSLA had their earnings announcement today and the big takeaway people seemed to have was that TSLA had sold some of their bitcoin...

Elon Musk posted this on his Twitter regarding the sale:

image.png

(Source: https://twitter.com/elonmusk/status/1386821144037236737)

TSLA sold 10% of their bitcoin holdings and headlines and comments popped up everywhere proclaiming that bitcoin and TSLA were parting ways.

However, as you can see above, that is not the case.

Elon says that they sold 10% to show that bitcoin is a liquid investment that can be liquidated whenever needed.

While that sounds a little suspect to me, it is what it is.

The best way to prove it would be buy more bitcoin again Mr. Musk...

Others seem to like the move though:

image.png

(Source: https://twitter.com/search?q=bitcoin&src=typed_query)

Get your popcorn, things are getting interesting around here!

Oh, and don't look now but STEEM is getting close to a dollar again, that was fast.

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I already had popcorn, now I'm aroused!

This is a super interesting turn of event "to show BTC's liquidity" potential... That ought to anger a few heads out there.

Exciting times we're living in, exciting!!!

Thanks for sharing, I had no clue. Namaste :)

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Yep, not sure I buy his reasoning... should have just said we were up more than 100%, it was prudent to lock in some of those gains for our investors.

I think Elon musk is planing on making its own currency and launch it before libra because after it I dont think any currency will grow

Thank you for sharing. I am just starting to understand and appreciate cryptocurrency. I love reading others' points of view.

Now, I think Elon Musk is doing what he does best to generate curiosity. He has captured the mind of so many young people in this way, I truly believe this is just history in currency being made.