Skip to content

Does Elon Musk sell his Bitcoin?

May 2, 2020

As part of a recent series of senseless tweets, eccentric Tesla founder Elon Musk expressed his plans to sell all of his physical possessions. Are your Bitcoin (BTC) holdings included in the statement?

“I sell almost all of my physical possessions,” tweeted Musk on May 1st. “I will not own a house,” he said, adding:

“Only one condition for the sale: I own Gene Wilder’s old house. You cannot tear it down or lose your soul.”

Musk recited strange news to start May

Musk followed his sales tweet with a comment describing Tesla’s overly high share price and a tweet calling for freedom to return to the public.

Does Elon Musk sell his Bitcoin?Does Elon Musk sell his Bitcoin?

Several additional tweets contained random texts from the US national anthem. USA, A statement about the Anger from his girlfriend to him and his baby’s apparent due date on Monday.

In February 2019, Musk only revealed this would have 0.25 BTC. Selling all of your physical possessions would include selling your Bitcoin? Do you consider Bitcoin as physical possession?

Cointelegraph contacted Elon Musk for further details, but received no response at the time of publication. This article will be updated accordingly when a response is received.

Musk was able to buy a large amount of Bitcoin

Several members of the crypto community responded to Musk’s tweets storm. Tron’s founder Justin Sun simply he said Tech tycoon to “buy Bitcoin” while Hodlonaut asked if the billionaire would save his sales profits in the cryptocurrency.

In the unlikely event that Musk, after selling his possessions, wants to park all of his assets in Bitcoin, he would have to find a way to get around $ 39 billion in digital assets.

The full market cap of Bitcoin at press time is $ 161,569,180,962 according to CoinMarketCap numbers. Musk could theoretically buy around 24% of all BTC in circulation.

However, Musk would have a hard time buying this amount of Bitcoin without increasing the current rate for the asset. Cointelegraph recently interviewed some experts on a similar situation: what if Amazon CEO Jeff Bezos tried to buy all the bitcoins in circulation? The ruling showed that such a task would probably not work.

Receive Breaking News !

Install
×
Enable Notifications    Ok No thanks