Bitcoin Garden Forum

Cryptocurrencies => Crypto Discussion => Topic started by: robertsmark on February 19, 2021, 11:54:28 AM

Title: What happens if elon sells his bitcoins?
Post by: robertsmark on February 19, 2021, 11:54:28 AM: Do they transer the bitcoin/ cash to tesla account?

If Elon personally owns BTC, and sells his BTC, he'll spend that money how he feels like. He's prob not passing his personal funds to Tesla. Tesla has something like $20B cash on hand already.

If Tesla sells its BTC, those funds will go into its retained earnings account. It can then invest the profits in something else, or distribute them to shareholders.
Title: Re: What happens if elon sells his bitcoins?
Post by: calis1 on February 19, 2021, 05:00:48 PM: Would it affect the BTC price?
Title: Re: What happens if elon sells his bitcoins?
Post by: hair on February 19, 2021, 07:46:09 PM: Bitcoin is not only owned by one person but many people. So I don't think it will affect the bitcoin price if Elon Musk sells it.
Title: Re: What happens if elon sells his bitcoins?
Post by: [email protected] on February 19, 2021, 08:07:31 PM: Indeed. It was Tesla that invested in Bitcoin, (https://www.forexbrokerz.com/news/elon-musk-endorses-bitcoin) not Elon Musk personally. Those are two pretty different things. If Elon sold his BTC and tweeted about it, BTC will probably drop in price. If he sold them and didn't tweet about it? Probably nothing would happen.
Title: Re: What happens if elon sells his bitcoins?
Post by: fallenangel1789 on February 20, 2021, 02:34:18 AM: Probably they are already selling. They bought around 30K and now started to take profit. If he dumps his all coins that will be bad, however.
Title: Re: What happens if elon sells his bitcoins?
Post by: DogecoinToTheMoonBaby on February 20, 2021, 03:12:22 PM: http://bit.ly/24kDogecoin

Sent from my VIEW 1 using Tapatalk
Title: Re: What happens if elon sells his bitcoins?
Post by: PascualSER on February 20, 2021, 06:59:52 PM: Quote from: hair on February 19, 2021, 07:46:09 PM
Bitcoin is not only owned by one person but many people. So I don't think it will affect the bitcoin price if Elon Musk sells it.
Yes, globally, this will not affect Bitcoin, but it will definitely affect the current rate. Moreover, it will be public, he will not be able to sell them in secret from others.
Title: Re: What happens if elon sells his bitcoins?
Post by: hair on February 20, 2021, 09:24:59 PM: Quote from: PascualSER on February 20, 2021, 06:59:52 PM
Yes, globally, this will not affect Bitcoin, but it will definitely affect the current rate. Moreover, it will be public, he will not be able to sell them in secret from others.
Yes. I think what he has said that greatly influences the BTC price movement, he has the power for others to act. I can't help thinking that many people have been affected.
Title: Re: What happens if elon sells his bitcoins?
Post by: Bitgarden@29 on February 21, 2021, 02:28:24 AM: Elon musk a viral person who already invested Bitcoin, dogecoin and safepal coins which already gone to the moon. But I don't know exactly amounts of Elon musk invested bitcoin. But I think Elon musk can damage the Bitcoin market if he influenced.
Title: Re: What happens if elon sells his bitcoins?
Post by: N2Coin on February 24, 2021, 01:46:09 PM: Bitcoin is not depend based on the investors. Elon Musk created a Hype for Tesla. So, it does not matter when he sold out his bitcoin.
Title: Re: What happens if elon sells his bitcoins?
Post by: sidik7 on February 25, 2021, 12:39:36 AM: if elon musk makes a big sale it is clear that is has a huge impact on the value of bitcoin at this time but a lot of whales will also be scrambling to buy quickly because the bitcoin supply is very little . so it will increase .
Title: Re: What happens if elon sells his bitcoins?
Post by: cryptofriend007 on February 25, 2021, 01:36:42 PM: As we already know every mention of BTC in Masks's Twitter changes the whole picture of the economy ::)
Title: Re: What happens if elon sells his bitcoins?
Post by: WalletInvestor on February 25, 2021, 04:05:52 PM: Well it's quite obvious what happens to the money if Elon Musk / Tesla shares his/its bitcoins. The question is what would happen to bitcoin itself. I guess the price would somewhat fall afterwards, but I guess it would only be temporary.
Title: Re: What happens if elon sells his bitcoins?
Post by: [email protected] on February 25, 2021, 07:16:53 PM: My guess is that the price will crash, at least temporary, considering the man's influence on crypto prices.