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Elon Musk selling Bitcoin, Is There Another Reason

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Written by   318
4 months ago

You heard about the recent news regarding our Famous and everyone's dear Entrepreneur 'Elon Musk'. His anti-movement against Cryptocurrency. Well, it wasn't an anti-movement but when you are such a great personality even where you poop can be a headline and many will make different irrelevant meanings of it, lol. Jokes aside. The news is that he sold 75% of Bitcoin but this is not correct information rather Telsa company sold 75% of Bitcoin. Elon is the CEO of Tesla and so we can say he sold BTC but he can't be the one to make such a big decision without other head members.

So, let's just say Tesla sold 75% of BTC left, and let me remind you in April month Tesla sold 10% of their BTC holdings. So do the math and you can see they have little bit of BTC left.

Now you must be thinking about what happened to this super active vocal crypto bull who manipulated the whole market for some months. That his company took such a U-turn in this negative market. Well, he has stated on behalf of the whole company that they are ready to accept crypto and increase their BTC holdings in the future. But for now, as his company, Tesla promotes speeding up the transaction of renewable energy and thinks that having tied with BTC isn't good for their belief and reputation as Bitcoin is still not that environment eco-friendly for what Tesla is looking for.

Somebody just introduce Tesla or Elon Musk to Bitcoin Cash I'm sure seeing the energy consumption of BCH will surprise his beliefs over the heavy consumption of energy by Cryptocurrencies not to mention the low fees and fast transaction feature.

Still, I'm very impressed that the Crypto market hasn't lost the small positive movement that it was following for a few days even after hearing such negative news from a big company and personality. It shows that the days of Elon's influence are over in Crypto, finally, he may be a great Businessman or Entrepreneur but he was doing and making lots of unnecessary influence in the crypto market by promoting meme coins just like an average YouTube or Instagram influencer. By this time, I think a majority of you know that Elon's words aren't that valuable for Crypto advice.

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My Thoughts

Lol, I was having different thinking over this BTC selling that as an interested Crypto enthusiast those sold BTC are of Elon's shares on behalf of the company to avoid taxation and all which every businessman do use their company to avoid taxation for their assets, haha. And he is trying to attain some money to spend on the case of Twitter Deal, lol. I know this sound absurd as he has enough daily earnings to fight and pay for lawyers in that case. But if he loses the fine can be huge. And so I think he is taking necessary precautions.

As back in few months ago when the Twitter Deal happened I immediately thought that Elon will do something to decrease the price of the deal and at last he did. These absurd thoughts became true. So this time I am sharing it.

Right or Wrong doesn't matter as I am not winning 1000 Bitcoin Cash for predicting the hidden reason. Woah that amount would be awesome for me, haha.

Or there can be another solid reason that he is looking for an Eco-friendly Cryptocurrency without any restrictions. This one seems correct for his personality.

Still, his love for Dogecoin is there and beware guys take profit or leave or don't mind Memecoins. Rest let me remind you there's one organization named Micro Strategy they are buying BTC in every dump probably more than 128K BTC. Lmao, I think they are overdoing it now.

Note:- These are just my thoughts and opinions not intended to defame anyone or anything.

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4 months ago
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Comments

I thought the sale would have huge impact on the market but it didn't.

Like you said Elon influence on the crypto market might be waning

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4 months ago

That's the best thing happening this year, lol. He was giving too much limelight to meme tokens.

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4 months ago

It could be another strategy. As you said, his words doesn't matter much in crypto world but we can't ignore the fact that he has a huge influence in the market. Let's see what happens.

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4 months ago

Yeah his mind and investment plans functions different than any other individual.

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4 months ago

I heard about that, I mean I read somewhere. And coz of that the market was littlr down that time but then started to pump again. Hmmm bow what's next 🤔

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4 months ago

I think slowly it will recover for sometime and again there would be huge dump in between and I think that will be the last dump.

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4 months ago

Brother you can make a try. Please give a brief introduction of BCH to Elon, he will accept it 😂.

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4 months ago

He should do his own research, lol. The most million dollar advice in Crypto, haha. Don't next time I will transfer him to your post for better introduction of BCH.

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4 months ago

These big people are the ones who influence the crypto market in one way or the other. I'm still trying to find out why Tesla sold all their BTC.

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4 months ago

Only they know the reason, let's not think much about them.

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4 months ago

Tesla selling their bitcoin slightly affected the market but not the investors, I think they aren't afraid that some big companies are selling their BTC since it does minimal to the market. Well, I hope people won't get FUD once there was continuous selling of assets from big investors.

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4 months ago

Yeah, I think by now people should have realised the market can dump as well as recover also.

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4 months ago

If someone succeeded to convert his consideration towards BCH, can we imagine the future of BCH and it's flight. It will be incredible!

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4 months ago

Yup, the ride will be crazy. So many solid factors supporting the cause and reason BCH can be used for.

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4 months ago

The answer, as always, lies on the surface. The crypto market is rapidly going down. Yes, just to avoid being in the red. And will grow to invest in something else.

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4 months ago

He is just too smart with his money.

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4 months ago

I read about this but another thing I saw about him is this topless photo, lol. and no comment about it.

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4 months ago

Lmao, that must be some meme you saw.

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4 months ago