All eyes are on Tesla’s second quarter financial report, will Crooked Musk buy the bitcoin dip?

Jul 26, 2021

Tesla’s financial report for the second quarter of 2021 will be launched this Monday, U.S. time, and will spotlight what occurred to the firm’s Bitcoin holdings. Tesla held greater than $ 1.5 billion in Bitcoin in the first quarter and solely bought it as soon as to “test the liquidity of the market,” in response to CEO Elon Musk. The crypto group is now eagerly awaiting what may occur to Tesla’s upcoming financial report.

“Creepy Musk” is out of eels?

The upcoming financial report from the world’s main electrical automobile maker has raised expectations in the crypto group attributable to the great amount of Bitcoin the firm holds on its steadiness sheet. The present state of this bitcoin storage remains to be undetermined and it will be introduced quickly if the firm sells, holds, and even buys the dip it will rock the market as effectively.

Only one Bitcoin sale has been recorded thus far. Tesla bought $ 272 million in Bitcoin final quarter to “test market liquidity.” At the time, the information sparked a barrage of costs accompanying FUDs, even insults to firm executives.

However, Elon Musk was fast to clarify that this was only a check of Bitcoin’s liquidity to verify the firm did not get into different associated points.

But then Tesla abruptly stopped accepting Bitcoin as a way of cost for patrons, and Musk even whipped that Bitcoin is destroying the atmosphere he later dubbed “Eel Musk” lewd “by the crypto group.

If Tesla studies that it has bought BTC at a excessive price in the previous after which purchased it again at a decrease price at the similar time as the CEO’s market-manipulating tweets, Elon Aal will not should buy bricks this 12 months. In reality, at the time Bitcoin was trading in the $ 55,000 price zone, blockchain researchers have been skeptical.

At the “B Word” occasion, a cryptocurrency convention held final week, the second richest billionaire in the world mentioned he completely wished Bitcoin to succeed. Musk hinted that Tesla’s BTC was nonetheless intact when he acknowledged, “I can pump but never deflate.” However, since we are known as crooked musk, we clearly have to attend for the official financial report back to be launched earlier than taking any additional motion.

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Cong Tu Ngang

According to AZCoin News

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