Billionaire entrepreneur and Tesla CEO Ilan Musk tweeted that he had not sold any of his bitcoins in response to allegations of cryptocurrency market engineering.
Mask made the remarks in response to allegations made by an Internet personality named Dave Portnoy Has tweeted. In a tweet, Portnoy accused the Tesla CEO of abusing the bitcoin market, and Musk responded that he had not sold any of his bitcoins.
According to Portnoy, Tesla’s CEO has made a profit by raising and lowering the price of bitcoin and has engineered the market with his public statements in support of the cryptocurrency market.
Denying this, Musk replied that Tesla had sold 10% of its bitcoins:
“Tesla sold 10% of its assets to prove the liquidity of Bitcoin as a substitute for cash on the balance sheet. “I have not sold any of my bitcoins.”
Tesla sold part of its bitcoin assets in the first quarter of 2021, earning $ 272 million. Earlier this year, the electric car maker announced a $ 1.5 billion investment in the Bitcoin market, which boosted the value of the cryptocurrency.
Several weeks later, the company announced the acceptance of Bitcoin as a way to buy cars, and of course said that it would store the cryptocurrencies received in the same way instead of converting them into cash.
We do not know how many bitcoins Ilan Mask has at the moment, but his recent tweet shows that he is not interested in selling them.
The price of Bitcoin has fluctuated a lot in recent days, and even a few days ago, its price fell below $ 50,000 again. However, it has experienced good growth in the last 24 hours and is now trading at a price of nearly $ 53,000 in the market.