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Elon Musk Response After Tesla Sold $272 Million Worth of BTC: “I Never Sold Bitcoin I Own”

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Tesla and SpaceX CEO Elon Musk said that he has never sold his personal Bitcoin. Elon Musk’s statement came after Tesla sold $272 million worth of Bitcoin.

Tesla announced in its first quarter report that the company earned $272 million from “selling digital assets”. In February, the company announced that it bought $1.5 billion of BTC from Coinbase, in a document submitted to the SEC.


Earlier Tesla and SpaceX CEO Elon Musk announced that Tesla-branded vehicles can be purchased directly with Bitcoin.

Elon Response To Pump and Dump Comment

Famous investor Dave Portnoy made a pump & dump comment on Elon Musk after learning that Tesla was selling Bitcoin.

Portnoy said:

Do I understand the situation correctly? First Elon Musk buy Bitcoin, pumps up the PRICE and then he dump Bicoin to makes a fortune.

Elon Replied:

No, you do not.  I’ve never sold my Bitcoin. Tesla sold 10% of it to prove that Bitcoin liquidity could be an alternative to holding cash on the company balance sheet.

 

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Jakkkhttps://thecryptobasic.com/
Owner of TheCryptoBasic. Involved in cryptocurrencies for more than five years, Love to trade and write on cryptocurrencies. My primary aim is to provide genuine information to cryptocurrency readers because crypto is filled with frauds and scams. Accurate information is scarce to get. So We at TheCryptoBasic will be providing accurate information about cryptocurrencies topics that users can trust.

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