- Elon clarified that Tesla did not sell its Bitcoin holdings
- The crypto market continues to bleed as Bitcoin price keeps dropping below $50k
As a result, speculations about Tesla dumping its entire Bitcoin holding spread like wildfire across the crypto community.
Of course, we all know that Elon is one of the most influential people with regards to moving the crypto market. For this reason, the crypto community is now confused and torn between holding or dumping their crypto funds. In other words, FUD is now circulating in the community and it’s almost all over the place.
This made Elon react in a tweet post to clarify all the rumors spreading about Tesla’s Bitcoin holdings:
To clarify speculation, Tesla has not sold any Bitcoin— Elon Musk (@elonmusk) May 17, 2021
With this clarification, the crypto community is now hoping that things will go back to normal. Crypto enthusiast and investor, Lark Davis, is one of the people who expressed his reaction in a tweet post.
Ok Elon confirmed that Tesla did not sell their #bitcoin, can we get back to the bull market now please!— Lark Davis (@TheCryptoLark) May 17, 2021
Moreover, the crypto market continues to bleed as of the time of writing. The major altcoins such as ETH, ADA, BNB, DOGE and DOT are still suffering from a 24-hour decline rate of more than -10%.
Meanwhile, there are also some people that are taking advantage of the market dip where they buy low and sell high. Truly, there are so many great things that the crypto world possesses, it’s just a matter of how traders and investors see it.