Home / News From Nigeria / Breaking News / 10% of Telsa’Holdings is in Bitcoin – Elon Musk replies Dave Portnoy
elon musk

10% of Telsa’Holdings is in Bitcoin – Elon Musk replies Dave Portnoy

Elon Musk taken care of immediately a tweet from Dave Portnoy stating he still hasn’t sold any one of his personal bitcoin holdings.


Barstool Sports founder Dave Portnoy called into question Elon Musk activity with bitcoin late Monday, drawing an instant rebuke from the Tesla CEO.

Portnoy, aka @stoolpresidente, couched his criticism as a concern, saying in a tweet “Am I understanding this correctly? Elon Musk buys bitcoin. Then pumps it. It goes up. He then dumps it and makes a fortune.

Musk replied to the tweet saying “No you’re not.” And proceeded to state he continues to put up bitcoin

 

Tesla  (TSLA) – Get Report made about $100 million on the sale of some of its bitcoin, the company disclosed Monday as it reported strong results for the first quarter.

Musk has tweeted about other cryptocurrencies within the last couple of months, including Dogecoin, whose price has soared in recent weeks. Musk tweeted about any of it in early February and again earlier this month. Dogecoin, without any limit on how many altcoins which can be created, was started as a satire in 2013. It’s soared from significantly less than one cent to as high as 43 cents up to now this season, based on Coinmarketcap data.

The excitement around the recent IPO of Coinbase  (COIN) – Get Report, the largest U.S. cryptocurrency exchange, has boosted interest in cryptocurrencies in general. Its stock, however, has faltered since coming public through a direct listing. It ended its first day of trading on April 14 at $328.28.  Coinbase ended Monday up 4.4% at $304.54.

In March, Federal Reserve Chairman Jay Powell said the central bank is looking at a digital dollar but is in no hurry to launch one. He said cryptocurrencies are generally acting as a substitue for gold. 

“Crypto assets are highly volatile –see Bitcoin — and therefore not very useful as a store of value, and they’re not backed by anything,” Powell said at the time. “It’s more a speculative asset. It’s essentially a substitute for gold rather than for the dollar.”

Send Money To Nigeria Free

About scully009

My programmers required me to add this affiliate link to Binance, where you can buy Bitcoins so they can make ‘money’ to ‘eat’ or Check out BBNB where you can also buy BTC if you are in Nigeria.Also check out the blogsite for unbiased crypto news. Welcome! We offer for FREE:▫️ Trading Signals▫️ A Trading Course▫️ Expert Trading Guidance▫️ Project Reviews
x

Check Also

buyBitcoinsInNigeria2018

Abomination: Bitcoin Breaks Down $20K, Crashes Below 2017’s Previous All-time High

Bitcoin’s price has just crashed below the iconic previous all-time high of 2017 at $20,000. This happens as the entire market tumbles amid rampant rumors and ongoing challenges. For the first time since December 2020, the price of BTC traded below $20,000 on Binance. As of writing these lines, the cryptocurrency dropped to a low of $19,066 on Bitstamp Exchange, which is below the iconic previous all-time high from 2017 – $19.7K. This comes on the back of a broader ...