Elon Musk: “I have not sold any of my Bitcoin”

Billionaire Elon Musk admitted on Twitter that he owns Bitcoin but has not yet sold any.

In a tweet on Twitter, Dave Portnoy – a well-known blogger in the US – said that Elon Musk bought Bitcoin, then “pumped” the coin up to sell for a profit. This tweet came after Tesla announced record profits, in part thanks to the sale of Bitcoin.

elon musk

Elon Musk immediately rejected Portnoy’s opinion. “No, you do not. I haven’t sold any of my bitcoin,” he denied. “Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on balance sheet.”

In the past, Elon Musk often dodged questions about Bitcoin and how much he held. Instead, he supports Dogecoin – coin has been seen as a joke of the cryptocurrency world.

Tesla was the first company to spend billions of dollars on Bitcoin. In February, Tesla created a fever when it announced it was pouring $ 1.5 billion into the virtual currency and said it could continue to invest in cryptocurrencies. Currently, Tesla also accepts car customers to pay with Bitcoin.

Tesla sold a portion of its Bitcoin holdings in the first quarter of 2021, for $ 272 million. Electric carmaker’s profit this quarter reached $ 438 million, $ 101 million of which came from the sale of Bitcoin.

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