First Statement From Musk About The Sale Of Bitcoin

After Tesla announced that it sold $ 272 million of Bitcoin, Elon Musk, the founder of the company, made a statement on the subject.

The first statement about the sale of Bitcoin came from Elon Musk, the founder of Tesla. Tesla, which announced that it bought $ 1.5 billion of Bitcoin in early 2021, made a new statement and reported that it sold $ 272 million worth of Bitcoin. After this sale, Elon Musk was showered with reaction. Making a statement on his Twitter account, Musk reported that he did not sell any of his Bitcoin. Tesla, which announced that it bought $ 1.5 billion worth of Bitcoin at the beginning of the year, caused BTC to jump from $ 40,000 to $ 50,000. The company announced in March that it would accept payments with Bitcoin. Tesla's first quarter earnings report of 2021 showed $ 272 million in Bitcoin sales, and a statement was made by the company that they still trust Bitcoin. However, the discussion focused on whether Tesla would sell Bitcoins from vehicle payments or BTC from direct purchases. Larry Cermak, research director of The Block site, known for his news about cryptocurrencies, was one of the names who clarified this issue on Twitter.

Which Bitcoins Are They Considering To Sell?

Upon the publication of the news that the Tesla finance manager stated that the company will continue to invest in Bitcoin, Cermak said, “Actually, this is not exactly the case. We will continue to invest in Bitcoin directly.” He made the following evaluations about Tesla's statement: “This was not directly what they said. In the statement made, ‘We believe in the value of Bitcoin for a long time. We plan to keep the Bitcoins from our customers' car purchases for the long term. We are satisfied with the liquidity in the Bitcoin market. When we made sales in March, we were able to perform our transactions quickly. It is very important to have quick access to cash in this regard. "

Statement From Elon Musk

While all these discussions were taking place, Dave Portnoy, an internet phenomenon and blogger with 2.4 million followers on Twitter, criticized Elon Musk and said, “Now, am I getting it right? Elon Musk bought Bitcoin. It raised the price. Then he sold it and made a fortune for himself. " Musk responded to Portnoy in a short time. Tesla's founder said, "No, you don't get it right. I haven't sold any of my Bitcoin. Tesla alone sold 10 percent of BTC to show that you can quickly obtain liquidity by holding Bitcoin as an alternative instead of holding cash on the balance sheet." Musk's answer got thousands of likes and "RT".