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George Spencer

December 7, 2021

Elon Musk Sold Total of $7 Billion In Tesla Stock

Keeping to his word, billionaire Elon Musk has sold out his Tesla shares, putting more and more billions into his pocket.

As reported earlier, the richest person in the world took to Twitter to carry out a poll asking whether or not he should sell 10% of his Tesla shares. 58% voted yes which was considered a win and lo and behold, Musk began selling some of his stock not long after keeping his word.

The first sale made over $5 billion and the recent sale was worth $1.2 billion. Since the announcement of the poll and the sale of stocks, Tesla’s share price has been on a constant decline. The last 24 hours have seen the electric car company’s share slump by 3.31% to trade at $1,033.

With roughly $7 billion in his pocket, it’s left bulls wondering whether Elon Musk will turn his sights towards the cryptocurrency markets where he has maintained a keen interest. In July, he revealed that he owns Bitcoin and Ethereum and also has an affinity towards meme coins. What his next move will be is entirely unpredictable.

Musk’s long-standing passion towards Bitcoin resulted in Tesla buying $1.5 billion worth of the leading crypto earlier this year and the company to start accepting BTC as a payment method for its electric cars only for it to cut short s couple months after.

In October, Elon Musk posted a meme that forecasted Bitcoin’s price at $69,000 and Ethereum at $4,200. It’s being speculated that Tesla might be on its way to begin accepting Bitcoin as payment for its vehicles again.

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