Effect of Tesla bitcoin sale not significant
And you're looking now for the effects?
The sale didn't happen yesterday, that was the announcement that they did sell somewhere in Q2 which could be anywhere in the last months.
So it might have not caused a thing and it might be responsible for some of the drops we experienced, maybe even the crash from 35 to 30 was caused by this.
And before somebody comes with the OTC thing, the OTC is not a black hole where you can sell billions of coins and it will not affect the price, if somebody unloads 100k coins and there are no takers then they will have to go lower and lower like, in any normal market, OTC is not something that denies the laws of supply and demand.
Also a time of the Chinese crypto crack down FUD
Which proved to be not fud but as real as it can humanly be possible!
PS. It was a big surprise for me that Tesla did buy high and sell low. I've been expecting them be smarter.
They did sell 10% of the total somewhere in April 2021, so that was a pretty smart move making them about 120 million.