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Elon Musk Confirms Tesla Has Not Sold Bitcoin After Price Crash

Newsweek logo Newsweek 5/17/2021 Ed Browne
Elon Musk standing in front of a stage: Elon Musk speaking at the Washington Convention Center, Washington DC, March 2020. The Tesla CEO has said his electric car company has not sold its bitcoin. © Brendan Smialowski/AFP / Getty Elon Musk speaking at the Washington Convention Center, Washington DC, March 2020. The Tesla CEO has said his electric car company has not sold its bitcoin.

Elon Musk has said that Tesla, his electric car company, has not sold any of its Bitcoin holdings.

It comes after earlier speculation that Tesla had dumped some of its vast cryptocurrency portfolio.

Musk made a statement to the contrary in a tweet early on Monday morning. Replying to another user, he wrote: "To clarify speculation, Tesla has not sold any Bitcoin."

Speculation that Tesla had sold some of its bitcoin investment was sparked on Sunday after Musk was involved in a Twitter exchange.

Twitter user CryptoWhale wrote: "Bitcoiners are going to slap themselves next quarter when they find out Tesla dumped the rest of their Bitcoin holdings. With the amount of hate Elon Musk is getting, I would blame him."

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Musk replied: "Indeed."

Observers have noted the price of bitcoin fell sharply after Musk's tweet on Sunday. At one point on Sunday morning the cryptocurrency was worth nearly $50,000 per token. By Monday morning it had fallen as low as $42,700, according to Coindesk.

This is a breaking story and will be updated.

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