We probably don’t have to introduce Elon Musk to any of you. The billionaire, which owns several companies (most known to the general public are Tesla, Space X and Neuralink) said yesterday that he still holds his BTC, but Tesla has sold 10% of its portfolio. As usual, this statement came on his Twitter account after Dave Portnoy accused Musk of manipulating the market (pump / dump). Musk immediately denied these allegations, adding that while Tesla had sold 10% of its portfolio, it was only to “prove Bitcoin’s liquidity”.
As you know, earlier this year, Tesla, led by Elon Musk, decided to invest $ 1.5 billion in BTC. It is quite certain that this report also helped the growth of cryptocurrencies, because, as we all know, cryptocurrencies are mainly controlled by the fundamentals. Yesterday, however, Tesla also published quarterly results for the first quarter of this year, thanks to which we now know that the company has had its seventh profit quarter in a row. Just to give you an idea, Tesla recorded a profit of $ 16 million in the same period last year, but this quarter it is $ 438 million and, as we found out, the company also earned earnings from the sale of BTC.
10% of the company’s portfolio sold is approximately $ 272 million, with net sales of $ 101 million. According to Zack Kirkhorn, the company’s chief financial officer, the sale was to take place at the end of March this year. He also added that the company will continue to accumulate BTC thanks to the transactions of its customers, as they can already buy Tesla directly through this cryptocurrency. As for the number of BTCs held by Elon Musk, this number is not publicly known. However, we can be sure that there are not a few.