Did Tesla sell all of its bitcoin? Bitcoin fell below $45,000 as Elon Musk fails to deny that Tesla has sold all its BTC holdings
Nickie Louise
Posted On May 16, 2021
Bitcoin has been falling like a rock since Tesla announced it will no longer accept bitcoin for car purchases over concerns about the environmental impacts. However, the price of bitcoin takes a turn for the worse on Sunday after the world’s most popular cryptocurrency lost 3.7% of its value falling to near $45,100 Sunday afternoon EST.
During its earnings call on April 26, Teslas revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to a sense of betrayal among some, especially crypto-Twitter.
Now, it seems Tesla has sold or may sell all its bitcoin holdings. Early today, a crypto analyst that goes by the name Mr. Whale on Twitter said this:
“Bitcoiners are going to slap themselves next quarter when they find out Tesla dumped the rest of their #Bitcoin holdings. With the amount of hate @elonmusk is getting, I wouldn’t blame him…”
Surprisingly, Elon Musk failed to outright deny that Tesla has sold or could soon sell all of its more than $1 billion holdings of bitcoin. Instead, Musk responded with the following:
“Indeed,” Musk responded in a tweet.
Indeed
— Elon Musk (@elonmusk) May 16, 2021
Musk’s tweet quickly sent a shock wave to the crypto sphere with many asking Musk to clarify what he was responding to. However, it was already too late. Bitcoin has already shed a few thousand dollars of its value from a day earlier.
https://twitter.com/EmperorBTC/status/1394004696868610051
About 3 hours later, Musk confirmed that he was actually responding to the original tweet above.
— Elon Musk (@elonmusk) May 16, 2021
As of writing, bitcoin had bounced back a bit to $45,843.00, down 5.2% in the past 24 hours, according to CoinDesk 20. On May 12, Musk announced that Tesla was suspending bitcoin out of concern over the “rapidly increasing use of fossil fuels for Bitcoin mining.” which sent bitcoin down by $2,000.
