Elon Musk Hints on Selling Crypto as Bitcoin Tumbles Below 45K USD



Share link:

As we talk about Elon Musk, the first thing we hear about it is his investment in Cryptocurrency when he procured bitcoin worth one billion USD. He went on to announce that his company Tesla will accept payments in Bitcoin and other digital currencies. Since then, he has been riding high with the high value of bitcoin when we now see it touching the lowest in a few weeks. His recent tweet suggests that he may think to sell off his company’s digital assets as bitcoin was seen sliding down. It was this man who went on to invest such a huge amount in digital currency. Bitcoin was seen trading around 45270 USD as of this Monday in New York, and it ended up going slow this Friday as well. The company’s CEO was seen talking about the same and then came up with the public statement talking about the fact as to how things would move in this direction. To know more about bitcoin trading you can get more info here.

He was seen lopping away around 10K USD ever since he procured Bitcoin and even has announced that he is not going to take it for cars at the moment for obvious reasons. Earlier, he was seen talking about the other digital coins like Dogecoin coming along with the best price, and he tweeted about the efficiency of its transaction. Elon Musk’s announcement earlier in Feb about his company using the 1.5 B USD of the bitcoin that was seen going up 20 B USD in the corporate cash that was seen coming along with the price that has gone up with a huge legitimacy as seen in the digital currencies. According to this man, it proved out to be more like a mainstream kind of asset that was seen getting popular in recent times. However, his recent encounter with this digital currency came up when he tweeted about it with a different handle. 

In his tweet, he categorically said that bitcoin is going to slam down the next quarter when it comes to slapping in the coming quarter, and it is seen dumping the ground with the remaining of the holdings. The CEO of the company then responded, saying that the Twitter handle called Crytowhale is his only, and he calls it to be the one of an analyst who is clearly mentioned on his bio. Musk was seen spending too much time when it was hit on Sunday with a number of users that are found for Twitter, and it slammed the changes taking place in the stance of Bitcoin taking place last week. One can find the move coming along with the sparkling of the environmental concerns that are seen coming along with the power that comes to call for the demand in the process of carrying out different transactions taking place in bitcoin. 

He went on to say that at this very time, one can find a number of companies that may mind selling away the digital currencies like bitcoin, which they possess. He has been an ardent fan of bitcoin and digital currency in general that come along with a cult kind of following as seen on social media, and he is seen coming along with it for the past few months and even would go in the coming times. But as things go down, he may think of diversifying as well. He seemed to go a long way in elevating things as far as bitcoin is concerned, and it has been like a pun for many considering the rise in the market value. On the other side, we see Dogecoin is going down by 9.6 per cent in the last day, which has added a few more cents this Sunday. As per the reports of the popular portal CoinMarketCap.com, he may take his sweet time before thinking of disposing of the digital coin for sure. Well, so, how long it will take would purely depend upon the way things would move in the coming times, but at the moment, there is nothing but speculation in the market that went on going up with his recent tweet. Well, let’s wait and watch, but at the moment for the critics, it’s a gala time.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Share link:

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Related News

Subscribe to CryptoPolitan