Elon Musk hints at Tesla selling its bitcoins

With just one word on Twitter, Tesla’s Chief Executive Officer Elon Musk hinted the company might dump its Bitcoin holdings despite an earlier assurance it will hold on to the cryptocurrency on its balance sheet.

A Twitter user by the name of Mr. Whale posted, “Bitcoiners are going to slap themselves next quarter when they find out Tesla dumped of their Bitcoin holdings.”

The Tesla executive gave a very short but telling reply: “Indeed.”

With that, it’s almost implied that after halting acceptance of the cryptocurrency as payment, Tesla will offload its Bitcoin holdings within the next 3 to 6 months.

Musk being poorly informed

Peter McCormack, the host of “What Bitcoin Did” podcast, criticized the reason Musk and Tesla in stopping the acceptance of the crypto as compensation for products, calling it “poorly informed,” and calling him the “perfect troll” because of his support to Dogecoin after making Bitcoin suffer.

The comments of the podcast did not sit well with Musk. The Tesla executive called them obnoxious, and it makes him “want to go all-in on Doge.”

In further engaging in what is being dubbed now as Crypto Twitter war, Musk claimed he knows more about how money works than “cryptocurrency experts” realize.

Bitcoin and Doge amidst the crypto Twitter war

Bitcoin seems to be hit pretty hard, as it is now down 9.5% the past 24 hours and 23.9% down for the past week. At press time, its price stands at $44,302 and is also 3.1% down for the past hour.

Many would think that Dogecoin would benefit from this, but its chart is also painted in red.

The meme cryptocurrency, according to CoinGecko, is priced at more than $0.48. At the time of writing, it is down 3.1% for the past hour, 9.0% down for the past 24 hours, and is looking at a 15% decline for the past week.

 

Image courtesy of Cointelegraph News/YouTube

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