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Tuesday, January 25, 2022

Bitcoin Not Sold By Tesla, Informs Elon Musk

Elon Musk, CEO of Tesla and SpaceX, has informed through a tweet that they have sold none of the Bitcoin in the possession of this electric vehicle maker company. This was clarified by Elon Musk himself on 17th May, Monday.

In his tweet, Musk wrote that Tesla did not sell any of their Bitcoin and he would like to specifically clarify his speculation. Recently such speculations have been doing the rounds.

Elon Musk Clarifies Bitcoin Selling Speculations

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The Bitcoin price had experienced a slight recovery on Monday around 2:35 am. Coin Metrics had reported that the price of BTC was $44,680 demonstrating partial recovery.

The BTC price previously had dropped below the $43,000 mark. This mainly took place after Musk had implied that his company, Tesla, had sold or might sell the remaining of their BTC holdings. This implication was given by Musk through an exchange on Twitter on Sunday afternoon.

One of the Twitter users named ‘@CryptoWhale’ had tweeted that the supporters of BTC will acutely regret it during the next quarter. Their regret will be because Tesla has dumped all their holdings, leading to the hate received by Elon Musk lately.

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In reply to this tweet, Elon Musk had replied, ‘indeed’.

This exchange happened soon after Musk informed that his vehicle-making company will be holding instead of selling their BTC. In addition, they plan on using their holdings for transactions immediately after mining becomes considerably sustainable energy.

Musk has been the biggest supporter of cryptocurrencies and is known as the father of the meme token, Dogecoin.

Tesla is known to purchase $1.5 billion priced BTC in the SEC filing during February. Musk has also been actively reprimanding people on Twitter who are critical of the cryptocurrency movement.

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