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Lettuce Hands: Elon Musk sells 75% of his Bitcoin investment

Another decision of the most popular tycoon gives us a new earthquake in cryptocurrencies?

6 min read
Lettuce Hands: Elon Musk sells 75% of his Bitcoin investment
The pullback in the market has placed Elon Musk as an investor with little strength

Elon Musk sells 75% of his Bitcoin investment; information provided by the same company, which it directs, the best valued electric car company in the worl

Tesla was considered the largest company with the largest investment in BTC, and Elon Musk the faithful defender of the volatile market, but it seems that neither of these stories seem to stick, what changed?

If you want to know everything about the most talked about topic in cryptocurrencies, you just have to keep reading!

Lettuce Hands: Elon Musk sells 75% of his Bitcoin investment
BTC bought in 2021 by Elon Musk sells 75% of his investment in Bitcoin

Sale of Tesla bitcoins

Elon Musk's verbiage does not have to mention the sale of bitcoins by Tesla as something of great relevance, moreover, he has only defined it as a secondary transaction of Tesla's finances.

Which has left much to be desired by the Internet community, being Elon Musk since his stardom on Twitter, one of the faithful defenders of the cryptoactive market.

Many contradictions come together at once, putting Musk in a bad spot from any point of view. But this… Does it also happen with Tesla?

Certainly, the company is not in a bad spot right now, not at all. While Musk is called on the internet: "the man with the lettuce hands"

Lettuce Hands: Elon Musk sells 75% of his Bitcoin investment
Elon Musk's hands selling 75% of his Bitcoin investment were the main topic on Twitter in recent days

Elon Musk lettuce hands or spaghetti hands?

One of the most shared comments by the media with Elon Musk's lettuce or spaghetti hands, leaving a strong intrinsic comparison on the matter.

The little strength is without a doubt, the description perfectly seen by crypto fans to title such an act, carried out by the richest man in the world.

And if you haven't seen the most popular tweet on the subject, don't worry, here we share it with you.

Tweet más compartido sobre la decsión de Tesla de vender sus bitcoins
Hey Elon Musk, here's a dog made of lettuce that you can pet with your lettuce hands.

Like everything we know about cryptocurrencies, the first thing we hear when entering the market is the incessant phrase “do not sell at a loss”.

Referring to what to sell when the concern that the price is going down is not a good decision.

That is why the tycoon is criticized so much, since it is not explained that the richest person in the world acts in the opposite way to what such a large investor should act.

The strength to trust the market for which he spoke so many wonders, even calling it a diamond business, is repudiated by Internet users.

Lettuce Hands: Elon Musk sells 75% of his Bitcoin investment
Elon Musk no longer heavily influences market capitalization

Loses the ability to influence the market

Continuing with what was stated by the Tesla CEO, he also expanded on the standard decisions that large companies have to make to prevail in the market decline.

Because behind the fall of the cryptocurrency market, there is the world economy being shaken by the new wave of Covid-19 infections in China.

This has had more than one businessman between a rock and a hard place, and although some experts state that the sale of most of Tesla's bitcoins was a good decision for his finances, his image is not the best.

After seeing those publications that place Elon Musk as a man with little strength, his influence in the market has been irreversibly declining.

Why is Elon Musk no longer causing earthquakes in cryptocurrencies?

Although the price of Bitcoin was affected by Tesla's decision this previous week, this does not mean that July has been the best month for cryptocurrencies since October 2021.

Yes, the price is still very low compared to its historical maximum, achieved last year, but taking into consideration all the crises that have affected the economy, their reactions are understandable.

Due to these same volatile market reactions, Elon Musk has spoken on several occasions about it, lately he has emphasized DOGECOIN again, but nothing happened about it.

The Tycoon has lost its effect on the market price because he no longer seems to be a good adviser, due to his instability in decisions, much less having such a large drop in the price of cryptocurrencies behind him.

Lettuce Hands: Elon Musk sells 75% of his Bitcoin investment
Tesla presents great growth when it comes to the financial issue

Tesla's finances after selling his bitcoins

The sale at a loss carried out by the electric car company, Tesla, is not a recommended action for anyone, but it seems that their finances are fine after this.

Tesla presented an investment of 1,500 million dollars last year for the bitcoins that last week it sold almost all of it. This 75% cost nothing more than 936 million dollars.

This implies that the company sold a BTC at a price of 29,000, while at the time it bought BTC, they were ranging more than 34,000 each.

However, Tesla continues to grow in the monetary field, and its investors cannot believe the numbers provided this last year, since its loss in this BTC investment is seen as small by other income of large numbers.

Lettuce Hands: Elon Musk sells 75% of his Bitcoin investment
Bitcoin is the queen bee and its value influences all other cryptocurrencies

cryptocurrency price today

Elon Musk's diamonds began the year with a price of 48,000, by July 21 this ranged at a price of 23,200 dollars and then fell with the sale of Tesla's BTC to 22,318 dollars.

This drop in the face of Musk's act did not affect it for too long, it could be said that it was a few minutes for the market to continue as normal as it had been during the day.

Despite this, the week starts depressing with a figure of only 21,897, which is a much lower number than when Tesla made the sale.

Before finishing this note, we remind you of the importance of not being influenced to sell at a loss, or to invest at a time when the world economy is in decline.