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Cryptocurrency Bloodbath: As bitcoin drops, Elon Musk shares ‘diamond hands’ tweet to imply Tesla won't sell its stake

Using a combination of emojis and text, Elon Musk said Tesla has “diamond hands”, implying that the auto company would not be parting with its $1.5 billion stake in bitcoin.

May 20, 2021 / 07:41 AM IST
Elon Musk. (File Image)

Elon Musk. (File Image)


Tesla boss Elon Musk has put out a cryptic tweet using emojis to imply that he has no plans to sell off his stake in bitcoin, even though the world’s most popular cryptocurrency plunged as much as 30 percent on May 19.

Musk seemed to be confident about not selling off Tesla’s crypto holding in his latest tweet, even though there has been a crypto-wide sell-off that has sent bitcoin’s valuation plummeting in half.

Using a combination of emojis and text, Elon Musk said Tesla has “diamond hands”, implying that the auto company would not be parting with its $1.5 billion stake in bitcoin.

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Notably, the billionaire’s stance on Tesla’s bitcoin position has swayed from time to time. On May 12, he had announced that Tesla will no longer allow vehicle purchases using bitcoin due to environmental concerns. He had even suggested a few days ago that Tesla might sell off its stake in bitcoin but backtracked on his statement later.
Moneycontrol News
first published: May 19, 2021 10:58 pm

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