- Tesla is selling its 75 percent Bitcoins holding.
- Musk mentioned that Tesla would not Sell any of its DogeCoin holdings.
Tesla is an Electric- Car manufacturing company. Elon Musk(Ranked As the richest man in the globe) heads the company founded in 2003 and is headquartered in Texas. Justin Sun, a 31-year-old Chinese Businessman and founder of the Tron Dao ecosystem, quotes Tesla selling its 75% percent of bitcoin Holding as “Good News.”
The official Twitter handle of Justin Sun mirrored the tweet of Justin informing its user and social media about the selling process of Tesla’s 75 percent BTC holding.
.@Tesla selling #BTC is great news for @Bitcoin! 1st, market no longer needs to worry about @Tesla selling #BTC which has been haunting us for a long time. 2nd, @Tesla selling nearly 1 BIL USD worth of #BTC shows the liquidity of @Bitcoin to all big corps.
— H.E. Justin Sun
Sun praised Tesla and its co-founder’s Decision to sell 75 Percent of BTC holding to maintain regulation of cash in the company because the pandemic of Covid-19 that began in China has shaken the financial condition of 90 percent of the companies globally.
Justin Sun Believed that selling the huge amount of BTC held by Tesla would open a new route for other companies to purchase cryptocurrencies in upcoming years.
Sun was appointed as Grenada’s representative member in the World Trade Organization in Geneva in December 2021 and is now a permanent member looking from a trading angle. Sun said that selling BTC held by Tesla is “Good News.”
Elon Musk, Chief Executing Officer Tesla group, mentioned that selling Bitcoin Holding is not a sign of conflict or verdict with Bitcoin Company. The process is performed to maintain the regulation of cash Flow in the Tesla firm.
Musk’s statement mentioned that The company is not selling its DogeCoins stake and will hold them until the next step.
ALSO READ – Dogecoin’ Dancing in The Dark’ After The Upgrade
Conclusion
Justin Sun commented on Tesla selling its 75 percent of Bitcoin holding. The step can prove to be good for other companies to hold BTC in upcoming times, and it will also regulate the use cases of cryptocurrencies worldwide. Elon Musk was holding the most Bitcoin till the first quarter of 2022.
Source: https://www.thecoinrepublic.com/2022/07/22/justin-sun-quoted-the-selling-of-teslas-75-percent-bitcoin-holding-as-great-news/