🔥Elon Musk's companies remain firm with their Bitcoin holdings 👀
After seeing the sharp drop of
#bitcoin since October of last year, some companies might have thought about selling in desperation; however, in the case of the companies of
#ElonMusk this did not happen, as they decided to remain firm with their Bitcoin holdings.
We are specifically talking about the case of
#Tesla and
#SpaceX , both companies of billionaire Elon Musk, as it is no secret that both companies own Bitcoin. That is why every time financial statements are presented, investors are on the lookout to know if they still hold their Bitcoins or if they have already sold.
On Wednesday, January 28, Tesla presented its financial results, where it reveals that it still holds its reserve of 11,509 BTC (unchanged from previous periods), and only suffered a market valuation decline (Bitcoin drop). In response, the
company indicated that this situation is just a "lesser evil," as it considers that there are other more important variables such as tariffs, exchange effects, among others.
In the same vein is Space X, whose IPO is in process, as it continues to hold an estimated 8,200-8,285 BTC, and has only made internal Bitcoin transfers for wallet consolidations.
Some analysts are starting to formulate some theories, suggesting that by holding onto their Bitcoins despite the market situation, Elon Musk is aiming at the thesis that Bitcoin is digital gold for corporate treasuries with a future vision. It could be that Bitcoin is just
part of a long-term game.
Do you think Elon Musk's companies will sell their Bitcoins soon, or on the contrary, will they venture to buy more?
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