At $40k, Bitcoin is up 70% since Tesla sold 75% of their Bitcoin bag

almost 2 years ago

Elon Musk's company Tesla invested $1.5 billion in Bitcoin in early 2021, Tesla and Micheal Saylor's company Microstrategy were one of the biggest companies that held Bitcoin on their balance sheet but in july 2022, it was reported that Tesla sold 75% of their Bitcoin holding which was worth about $963 million back then but Micheal Saylor's company Microstrategy did not sell or stop buying more Bitcoin at every chance that they got, in fact, they just recently went for another Bitcoin shopping spree as the company has acquired an additional 16,130 Bitcoin for $593.3 million sometime last week at an average price of $36,785 per Bitcoin, at the moment MicroStrategy now HODLs 174,530 Bitcoin.

That being said despite the fact that Tesla sold 75% of their Bitcoin holding, Tesla still holds $420 million in Bitcoin today. And who is to say that the amount of Bitcoin Elon Musk bought and announced in the media is not just the surface of what he really owns, who knows how much Bitcoin Musk actually owns, how are we sure that Elon Musk and his company Tesla did not buy back again last year when Bitcoin fell down back to $15k? We only know what the media tells or shows us. Anyway based on what the Media has shown us we believe at $40k per Bitcoin which is very close, Bitcoin will be up 70% since Tesla sold 75% of their Bitcoin bag.

Some people say that Elon Musk is an amazing business owner, innovator, visionary, and CEO, but as shown he is not a very good investor because of the Bitcoin sold, they said that Elon Musk bought towards the top and sold towards the bottom, according to a post I saw he might not be a paper hand for selling 75% of its Bitcoin holding because most people without prior knowledge of investing make this mistake the first time.

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At $40k, Bitcoin is up 70% since Tesla sold 75% of their Bitcoin bag

At $40k, Bitcoin is up 70% since Tesla sold 75% of their Bitcoin bag