CryptoWhistle - Crypto Currency Tracker logo CryptoWhistle - Crypto Currency Tracker logo
Seeking Alpha 2021-04-26 23:35:28

Elon Musk and Dave Portnoy debate Tesla's bitcoin moves

Reacting to news that Tesla (TSLA) sold 10% of its bitcoin (BTC-USD) in Q1 (for a $101M profit), Dave Portnoy takes to Twitter, lambasting Elon Musk for what he sees as a pump and dump scheme. "Bitcoin is exactly who we thought it was. Just don’t be last one #HODLing the bag," says Portnoy.Musk fires back, telling Portnoy he's not sold any of his own bitcoin, and that Tesla only unloaded a small portion "to prove liquidity of Bitcoin as an alternative to holding cash on balance sheet."Bitcoin initially fell a few hundred dollars on the news that one of its big fans had sold, but has recovered most of that drop, now selling at $53.9K.Seeking Alpha's Tesla conference call coverage is here.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.