Elon Musk stated in a recent tweet that he has not sold any of his bitcoin. The crypto-friendly billionaire and techno king of Tesla is hodling tight. So should you.
Crypto Markets crashed on Friday. The BTC price went down $50K for the first time since March 2021. Fear ensued following the crash. According to the crypto fear and greed index, Crypto traders were extremely fearful yesterday.
Many traders panic sold their crypto assets. Nevertheless, this happens on every bad day in crypto markets. Crypto traders are quick to sell when they see the market crashing. Newbie traders are especially the first ones to think that the bitcoin is going to zero. So they should better sell.
Anyone who has slight experience knows the shenanigans of crypto markets. The prices move alongside depending on Governmental decisions, corporate buy-ins, and sentiments in the market. However, cryptocurrencies like bitcoin have kept a significant amount of gains even on bad days.
Techno King is Hodling:
A distressed bitcoin holder, Dave Portnoy, accused Elon Musk of pumping and dumping bitcoin.
So am I understanding this correctly? @elonmusk buys #bitcoin. Then he pumps it. It goes up. Then he dumps it and make a fortune. Listen I own 1 #Bitcoin but #bitcoin is exactly who we thought it was. Just don’t be last 1 #HODLing the bag.
— Dave Portnoy (@stoolpresidente) April 26, 2021
Elon Musk responded by saying that he has no sold any of his bitcoin. He also clarified that Tesla has sold some holding to prove the liquidity of BTC.
No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on balance sheet.
— Elon Musk (@elonmusk) April 26, 2021
Elon is seen as a leader in the crypto industry. His company started accepting bitcoin as a payment a while ago. If he is not selling his BTC then you shouldn’t either.