We all know Elon Musk's acquisition of Twitter, but how to finance the deal is still unknown.
The billionaire sold some shares in Tesla and is trying to obtain loans from some banks.
Source: https://www.bbc.com/news/business-61255092
What would happen if Elon Musk decided to sell his Bitcoin? What will be its economic impact on the price of Bitcoin?
If you want to imagine something wild, why don't you think what if Microstrategy sells it's bitcoin altogether The billionaire sold some shares in Tesla and is trying to obtain loans from some banks.
Quote
Tesla chief executive Elon Musk has sold roughly $8.5bn (£6.8bn) worth of shares in the electric car maker, just days after he agreed to buy Twitter. The sale has led to speculation that it will help to finance his planned $44bn buyout of the social media platform.
Source: https://www.bbc.com/news/business-61255092
What would happen if Elon Musk decided to sell his Bitcoin? What will be its economic impact on the price of Bitcoin?
But anyways, talking about what would happen here, first of all the market would obviously react in a pretty negative manner, Not only because such a huge amount of bitcoin came out in the market for sale, but also because this will create a negative momentum in the market that such a big supporter and so-called holder of bitcoin has decided to sell it, many retailers will sell their bitcoin, but what would eventually happen is whales will look at this time as buy time and they will buy truckloads of bitcoin and then wait for another bull season.