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Is Elon Musk Selling His Bitcoin?

As a part of a latest collection of nonsensical tweets, Tesla’s eccentric founder, Elon Musk, expressed plans to promote all his bodily possessions. Are his Bitcoin (BTC) holdings included within the hearth sale?

“I’m promoting nearly all bodily possessions,” Musk tweeted on Could 1. “Will personal no home,” he famous, including:

“Only one stipulation on sale: I personal Gene Wilder’s outdated home. It can’t be torn down or lose any its soul.”

Musk rattled off unusual posts to kick off Could

Musk adopted up his hearth sale tweet with a remark describing Tesla’s inventory worth as too excessive, in addition to a tweet demanded the return of freedom to the general public. 

A number of further tweets included random lyrics from the U.S. nationwide anthem, a declare about his girlfriend’s anger towards him, and his child’s obvious Monday due date. 

In February 2019, Musk revealed he solely held 0.25 BTC. Would promoting all his bodily possessions embody promoting his Bitcoin? Does he take into account Bitcoin a bodily possession?

Cointelegraph reached out to Elon Musk for extra particulars, however obtained no response as of press time. This text will likely be up to date accordingly ought to a response are available. 

Musk may purchase a ton of Bitcoin

A number of crypto neighborhood members piped up in response to Musk’s tweet storm. Tron founder, Justin Solar, merely told the tech mogul to “purchase Bitcoin”, whereas Hodlonaut asked if the billionaire would retailer his sale income within the cryptocurrency. 

Within the unlikely occasion that Musk chooses to park all his wealth in Bitcoin after promoting his possessions, he would want to discover a technique to decide up roughly $39 billion value of the digital asset. 

Bitcoin’s complete market cap at press time sits at $161,569,180,962, CoinMarketCap numbers confirmed. Musk may, in concept, buy about 24% of all BTC in circulation.

Musk would have a tough time shopping for up that a lot Bitcoin with out spiking the going charge for the asset within the course of, nonetheless. Cointelegraph not too long ago polled a pair specialists on the same state of affairs — what may occur if Amazon CEO Jeff Bezos tried to purchase all circulating bitcoin. The decision confirmed the endeavor would probably not work.  

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