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As part of a recent series of pointless tweets, eccentric Tesla founder Elon Musk expressed his plans to sell off all of his physical possessions. Are your Bitcoin (BTC) holdings included in the settlement?
“I am selling almost all the physical possessions”, tweeted Musk on May 1. “I will not own any house,” he said, adding:
“Just one condition on the sale: I own Gene Wilder’s old house. You can’t tear down or lose your soul.”
Musk recited strange messages to start May
Musk followed his tweet about the sale with a comment describing that Tesla’s stock price was too high, as well as a tweet demanding the return of freedom to the public.
Several additional tweets included random lyrics from the US national anthem. USA, A statement about the go to from his girlfriend to him and his baby’s apparent due date on Monday.
In February 2019, Musk revealed that only had 0.25 BTC. Selling all your physical possessions would include selling your Bitcoin? Do you consider Bitcoin to be a physical possession?
Cointelegraph contacted Elon Musk for additional details, but received no response at the time of publication. This article will be updated accordingly if a response arrives.
Musk could buy a large amount of Bitcoin
Several members of the crypto community reacted to Musk’s storm of tweets. Tron’s founder Justin Sun simply Told him tech tycoon to “buy Bitcoin” while Hodlonaut I ask if the billionaire would store his sale profits in the cryptocurrency.
In the unlikely event that Musk chooses to park all of his wealth in Bitcoin after selling his possessions, he would need to find a way to obtain approximately $ 39 billion in digital asset.
Bitcoin’s full market capitalization at press time stands at $ 161,569,180,962, according to CoinMarketCap numbers. Musk could, in theory, buy around 24% of all BTC in circulation.
However, Musk would have a hard time buying that amount of Bitcoin without increasing the current rate for the asset in the process. Cointelegraph recently surveyed a couple of experts about a similar situation: what if Amazon CEO Jeff Bezos tried to buy all the bitcoins in circulation? The verdict showed that such a task would probably not work.
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