Billionaire founder Elon Musk has taken to Twitter to reassure the crypto community that he has not sold any of his personal BTC stores, despite Tesla benefiting from his recent Bitcoin purchases.
Musk’s comments came in response to comedian Dave Portnoy’s accusations that the Tesla boss profited from the pump and dumping of Bitcoin, which was created thanks to his public comments in support of the cryptocurrency.
Musk rejected Portnoy’s claim, stating that “Tesla sold 10% of the shares mainly to confirm Bitcoin’s liquidity as an alternative to keeping cash on the balance sheet,” adding:
“I did not sell my Bitcoins.”
According to Cointelegraph, Tesla Inc. Part of its bitcoin portfolio in the first quarter of 2021, with a net profit of $ 272 million.
In February of this year, the company spurred the growth of the cryptocurrency market after revealing a strategic $ 1.5 billion acquisition of Bitcoin, which at the time represented 7.7% of its total monetary position.
In the same month, Tesla also announced that it would start accepting Bitcoin payments for its cars, confirming that it would store the funds in Bitcoin rather than converting it into cash.
Elon Musk usually avoids revealing how much bitcoin he personally owns, but his recent tweet indicates that he does not want to sell them.
According to CoinGecko, at the time of writing, BTC is up 3% in the last 24 hours and is trading at $ 53,600.