New data has emerged on the assets of Tesla CEO Elon Musk, known for his love of Dogecoin (DOGE) in the crypto market. Tesla founder and CEO Musk sold 19.5 million shares in Tesla. Documents submitted to the US Securities and Exchange Commission (SEC) reveal that Musk made a total of $3.95 billion in sales.
Known for his love of DOGE, Musk made sales
Elon Musk explains the reason behind the $3.95 billion share sale. But Tesla’s stock is struggling. The share price fell around 3 percent in one day. Elon Musk currently manages his newly acquired Twitter. cryptocoin.com As we reported, Musk initially offered to buy Twitter for $44 billion. This equates to a price of $54.20 per share. However, Musk claimed that Twitter underreported the bot issue. That’s why he withdrew from the deal. Twitter sued Musk to force him to buy the company with the first offer.
The last time Musk sold his Tesla shares, he got into a legal battle with Twitter. He informed his followers that the sale was in preparation for an emergency scenario should Twitter force him to close the deal. He also stated that he will not sell his shares for a long time. Musk then informed the Twitter board that he would buy Twitter at its original price. Along with the Twitter board, he fired the CEO, CFO, and many senior executives. However, the company may be struggling financially after the acquisition. Many major companies such as United Airlines, Pfizer, and Audi have removed their ads from the platform.
Will crypto assets be affected?
Musk showed a significant change in tone when it comes to content moderation after the acquisition. He reiterated several times that the company has not made any changes to its moderation policies. According to some, the macroeconomic recession may be behind the Tesla share sale. On the other hand, due to economic uncertainty, Tesla had sold most of his Bitcoin holdings. Musk and Tesla own a significant amount of cryptocurrencies. When Musk sells his Tesla shares, it becomes an important question whether he will sell his Bitcoins.
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