Bitcoin hodler Elon Musk should sell $23B of Tesla stock, Twitter survey concludes


Bitcoin (BTC) fan, Tesla CEO and world’s richest man Elon Musk says he’ll promote 10% of Tesla inventory (TSLA) — if Twitter tells him to.

In a Twitter survey on Nov. 6, Musk entered the talk on United States tax coverage by providing to check it with a sale at present price $23 billion.

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Twitter tells Musk to promote $TSLA

U.S. Treasury Secretary Janet Yellen triggered a stir this yr by arguing that the federal government ought to tax unrealized positive factors as a part of a plan concentrating on “exceptionally wealthy” taxpayers.

Bitcoin proponents instantly turned out against the proposal, because it implies calculations which can be all however unattainable to use to cryptocurrency, except for ethical issues.

Musk, whose portfolio includes Bitcoin, Ether (ETH) and Dogecoin (DOGE), prevented direct criticism, as an alternative promising to promote 10% of his Tesla inventory if the survey outcomes instructed him to.

“I’ll abide by the outcomes of this ballot, whichever method it goes,” he wrote.

He added that he receives no “money wage or bonus from wherever,” and the sale would thus quantity to his solely taxable occasion.

On the time of writing Sunday, 57% of the survey’s 3.2 million respondents had stated that he ought to go forward with the sale — 19.3 million TSLA shares at $1,222 every, as per Friday’s closing worth — a complete of $23,582,600,000.

Elon Musk’s Twitter survey as of Nov. 7, 3pm UTC. Supply: Elon Musk/ Twitter

A well timed sell-off?

As Cointelegraph reported, current positive factors in each Tesla inventory and the corporate’s $1.5 billion BTC holdings pushed Musk’s web price over 1 / 4 of a trillion {dollars}.

Associated: Elon Musk-named memecoin ‘Dogelon Mars’ gains nearly 4,000% in October

In October, he warned over inflation, which he sees persisting past the brief time period.

Financial choices from the world’s richest man have beforehand unsettled Bitcoin markets, notably when Tesla halted Bitcoin funds for its automobiles over the cryptocurrency’s environmental credentials. 

As Cointelegraph noted, paperwork exhibits that the door stays open for the choice to be reversed.

TSLA 1-week candle chart. Supply: TradingView