Crypto News

“I Never Sold Bitcoin I Own”


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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