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Elon Musk: Tesla has not sold any Bitcoin

Cryptocurrency NewsMay 17, 2021 08:02
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© Reuters

By Samuel Indyk

Investing.com – Tesla CEO Elon Musk took to Twitter again on Monday to try and clarify Tesla’s position in regards to its Bitcoin holdings.

“To clarify speculation, Tesla has not sold any Bitcoin,” Musk said in a tweet.

It Is unclear over what timeframe Musk is talking about. Tesla’s most recent financial results showed Tesla had sold Bitcoin which helped the company turn a profit in the first quarter.

The latest statement comes following a weekend in which Musk has upset many in the cryptocurrency space following recent remarks.

Over the weekend, an unverified social media account called CryptoWhale tweeted to the Tesla CEO saying people holding Bitcoin will “slap themselves […] when they find out Tesla dumped the rest of their Bitcoin holdings,” adding, “With the amount of hate Elon Musk is getting, I wouldn’t blame him.”

Musk replied with one word, “Indeed”.

Musk has appeared to clarify Tesla’s position with the latest tweet.

The weekend exchange weighed on the price of Bitcoin with the coin falling to its lowest level since February 8th and over $20,000 below its record high set on April 14th.

Since the latest Tweet, Bitcoin has somewhat stabilised and although it is still lower by over 8% in the last 24 hours, the price is off its lowest level and back above $44,000.

Other major cryptocurrencies are also lower with Ethereum and XRP both down around 10%.

Elon Musk’s apparent favoured cryptocurrency, Dogecoin, was also not immune to the selling pressure, despite the billionaire saying last week he was working with its developers to improve system transaction efficiency.

The price of Dogecoin has fallen 7.6% in the last 24 hours to below $0.49.

Elon Musk: Tesla has not sold any Bitcoin
 

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Comments (13)
Mareks Boriss
Mareks Boriss May 17, 2021 17:17
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Is he set stop loss?
Antonio Ba
Antonio Ba May 17, 2021 14:29
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Musk manipulates markets, intentionally or not.
Ken Laing
Ken Laing May 17, 2021 13:21
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Maybe he sold his personal holdings
Mareks Boriss
Mareks Boriss May 17, 2021 13:12
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Now solution can be tesla car explosions ....
RAJ PATEL
RAJ PATEL May 17, 2021 11:31
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I think the entire sector is currently discounted courtesy of man-child Musk.
Stockis NotFun
Stockis NotFun May 17, 2021 11:11
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We don't really care whether tesla got sold any bitcoin. what we want to know whether he got buy more. No no for me if he didn't purchase more
Kelvyn Khng
Kelvyn Khng May 17, 2021 10:16
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Double dip. First dip many thought Tesla sold off btc, second dip many fear Tesla will sell off now!
Martin Skawinski
Martin Skawinski May 17, 2021 9:34
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but it will before anounce, remember elon is losing now will tell what we want to hear
RAJ PATEL
RAJ PATEL May 17, 2021 8:36
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Well the Musk vs bitcoin community is in a state of all out war on twitter, fun times,.and someone is going to make a lot of money.     just not sure who!
Vishal Singh
Vishal Singh May 17, 2021 8:29
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This creepy musk melon must exit from all of his bitcoin holdings once and for all. We the people will still manage to take this bitcoin for 100000 k..!!lol
Vishal Singh
Vishal Singh May 17, 2021 8:27
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He is just another hypocrite and who has a blabbering tendency. This hypocrite musk thinks that bitcoin is bitcoin because of him. what he doesn't know that he is musk because of us. The day people start dumping him and his products, he will understand who has the power.
amin zadhoosh
amin zadhoosh May 17, 2021 8:23
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Em what he sayone day btc is the best another day hate it
Siddhant Jain
Siddhant Jain May 17, 2021 8:09
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EM SELL THEN if you care about humanity
 
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