There have been numerous allegations that Elon Musk sold bitcoin to prove liquidity, and this led to the sale of 10% of Tesla's assets.
But Elon Musk denied the claim, saying that he had not sold any of his bitcoins, and that Tesla had sold some of its bitcoins in the first three months of the year & earning $ 272 million.
The news shows that Elon Musk and Tesla have chosen a large amount of bitcoin as their capital, and by accepting bitcoin for their own transactions, they are launching a bitcoin revolution.
Source:
https://cointelegraph.com/news/i-have-not-sold-any-of-my-bitcoin-elon-muskIt seems that Elon musk holding some BTC for his personal asserts too and his company Tesla also invested in BTC.
These two things are different. If Bill Gates buy BTC, we won't say Microsoft has bought BTC. It is his personal investment not investment by his company.
But yes Elon musk did use his position and popularity to manipulate the market price. Dige coin is classic example how people are influenced by celebrities in their buying decisions.
Bill Gates retired from MS a decade ago, MUSK is an active CEO
TSLA was dying, MUSK took out a $1.5B COVID ( cheap money loan ) and bought BTC cheap ($42k) prior to the ATH at $64k, at ATH he sold and covered the costs on his loan, and tossed the $272M profit on his balance sheet to keep TSLA looking good to the analysts.
GM did this for years GMAC was making 15% ROI on credit-cards with their capital, GM was making 4% ROI on the auto manufacturing biz.
MUSK is now in the same realm, he's not in the EV biz ( except for free 100's of billions of tax scams ), he's in the financialization biz, borrowing cheap money, and gambling.
Same as Delorean 30+ years ago, spent $100's of millions on COCAINE to keep his company 'profitable'