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Tesla sells 10% of bitcoin to test the market – Elon Musk continues to allow car purchases with crypto

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Elon Musk has just said that Tesla is only selling 10% of its bitcoin holdings, confirming that it is possible to buy its electric cars with bitcoins easily without volatility in the market.
Trading of the world’s number 1 cryptocurrency was significantly higher on June 13, when digital asset investor Elon Musk said: Tesla will continue to allow bitcoin transactions at stores vehicle manufacturer, when key members of the bitcoin infrastructure can confirm that 50% of the energy used to “mine” the coin is derived from clean energy.

The tweet that the Tesla CEO released Sunday was part of an exchange with twitter users that omitted to refer to a CoinTelegraph article accusing him of “bitcoin manipulation.” Musk said that the company kept $1.5 billion of its initial investment in bitcoin, but sold about 10% to “confirm it’s easy to pay off.” [bằng bitcoin] without distorting the market”. Elon Musk has become a prominent and influential figure in the crypto world. He tweeted in May that Tesla would no longer accept bitcoin as a means of payment for its vehicles, citing the large amount of carbon emissions in bitcoin mining. esla will continue to allow transactions in bitcoin at the car manufacturer’s stores, once it is confirmed that the “mining” energy source is clean energy. Photo: Getty. This action is believed to be the cause of the sell-off of the world’s No. 1 cryptocurrency. Musk’s comments on the sustainability of bitcoin “mining” continue to resonate in the crypto community. A commonly cited metric from the University of Cambridge pegged the annual electricity consumption of bitcoin mining at around 99 terawatt-hours. This consumption is more than that of the Philippines or Pakistan. Some of Musk’s recent tweets have also sparked a mix of excitement, confusion, apprehension, and sometimes even fear in the crypto community. Earlier this month, investors attempted to analyze a mysterious tweet from SpaceX that included a bitcoin symbol and a broken heart emoji. The information that Elon Musk transmits has had a great influence on the price of dogecoin and bitcoin. Musk is also partly blamed for the current drop in bitcoin and the broader cryptocurrency complex. The Wall Street Journal has described him as the biggest influence on bitcoin. By the end of June 13, the bitcoin price was up nearly 8%, changing hands at $38,808.09 on CoinDesk. As of now, Bitcoin is up over 28% for the year but is down about 40% from its mid-April peak at $64,829.14. The world’s No. 2 cryptocurrency, Ethereum, gained nearly 5%, changing hands at $2,521.81. Back in February, Tesla revealed that it had acquired about $1.5 billion in bitcoin in a filing with the Securities and Exchange Commission. At the time, Tesla paid about $38,000/bitcoin for each bitcoin. This is the average price at the time of Tesla’s Q4 conference on January 27. This conference did not mention any bitcoin holdings and the date of filing with the SEC. Overall, the prices of digital assets like bitcoin are outperforming traditional markets.