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Jordan Lyanchev



Articles by Jordan Lyanchev

PlanB’s Floor Model First Miss: Bitcoin Price Closed Way Below $98K In November

1 day ago

Bitcoin’s closing price for November below $60,000 meant that PlanB’s floor model, which was particularly accurate until now, was finally broken.
At the same time, though, the analyst confirmed that the more popular stock-to-flow model was still valid as BTC is on track towards $100,000.
PlanB’s Floor Model Fails
PlanB is among the most popular analysts in the cryptocurrency space, predominantly known for the Bitcoin stock-to-flow model, which he published in early 2019. However, he also posted another model, which he referred to as the “worst-case scenario,” in July this year.
Also known as the floor model, it’s based on technical aspects, such as the 200-day moving average, and saw BTC closing August at $47,000, September at $43,000, and October at $63,000.
The first two

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Over $30 Million in WETH and MATIC Stolen From DeFi Project MonoX

3 days ago

MonoX, a decentralized finance project providing single token pools, has become the latest hack victim, in which early estimations show that the perpetrators managed to take more than $30 million in various cryptocurrencies.
The protocol took it to Twitter to confirm the breach, explaining that a “method in the swap contract was exploited and boosted MONO token price to sky-high.”
The attackers used the coin to purchase several other digital assets. According to some estimations, the total amount stolen is around $31 million. Those include $18 million in wrapper ether (WETH) and more than $10 million in Polygon (MATIC).
Some of the other duped assets include WBTC, GHST, DUCK, IMX, MIM, and LINK.
So far, MonoX has failed to provide any more specifics on the security breach,

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Grayscale Launches Solana Trust for Accredited Investors

3 days ago

Grayscale Investments, the digital asset manager with over $50B in AUM, announced the launch of its 16th investment vehicle – the Grayscale Solana Trust.
The company’s press release, dated November 30th, explained that the new Trust will “solely and passively” invest in SOL – the native cryptocurrency of the popular blockchain project, Solana.
The product is already available for daily subscriptions by eligible individual and institutional accredited investors.
The Grayscale Solana Trust has become the 16th investment product launched by the company, following such for Bitcoin, Ethereum, Chainlink, Stellar, Litecoin, Ethereum Classic, Decentraland, and more.

“For the last eight years, Grayscale has been at the forefront of offering investors efficient exposure to the

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Jack Dorsey Steps Down as Twitter CEO

4 days ago

The price of Twitter shares shot up by double digits as news broke that the CEO of the social media giant – Jack Dorsey – has decided to quit.
CNBC reported, and later was confirmed by Jack Dorsey himself on twitter, the breaking news about Jack Dorsey’s decision to step down as the chief executive officer of Twitter.
The news comes as somewhat of a surprise at the moment, given the support Dorsey had. Last year, reports emerged that Paul Singer – billionaire investor and founder of Elliot Management Corp, wanted to replace Dorsey.
Shortly after, though, it became clear that he will remain at his position, which was regarded as positive news for Bitcoin supporters since Dorsey is among the most well-known proponents of the primary cryptocurrency.
In the past, he has

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El Salvador’s President Responds to Bank of England’s Bitcoin Adoption Criticism

5 days ago

The Bank of England is not a fan of bitcoin nor its growing adoption in countries like El Salvador. The Governor – Andrew Bailey – has repeatedly expressed his “concerns,” but this time, El Salvador’s President Nayib Bukele issued a response.
BOE “Concerned” About El Salvador and Bitcoin
Ever since the small Central American nation outlined plans to adopt bitcoin as legal tender in June 2021, numerous global financial organizations have tried to warn the country not to do it. Apart from the IMF, the Bank of England, spearheaded by BTC critic Andrew Bailey, was the most vocal one.
The institution has used almost every opportunity since then to double down on its belief that El Salvador should use only fiat money. The latest such example came earlier this week, shortly after

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Crypto Correction Deepens: Market Cap Below $2.5 Trillion, Ethereum Amid $4K Again (Market Watch)

5 days ago

The landscape in the cryptocurrency market continues to look dim, with bitcoin falling to overcome $55,000. The altcoins also struggle as Ethereum is close to breaking below $4,000, while Polkadot dumped by another 6% in a day.
Bitcoin Suffers Below $55K
It’s safe to say that bitcoin has seen better days, which weren’t all that long ago. The cryptocurrency challenged the coveted $60,000 mark on Friday before a sudden price dump, perhaps prompted by fears of a new COVID-19 variant, drove it south hard.
In just a matter of minutes, the asset lost more than $6,000 of value and bottomed at $53,500, causing nearly $400 million of liquidations in an hour.
This became the most severe price crash since September. Since then, BTC has attempted to recover some ground and even

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Bitcoin Accumulation Accelerates as Whales Buy 0.29% of BTC’s Total Supply in a Week: Analysis

8 days ago

Bitcoin’s price trading below $60,000 for over a week now has allowed some whales to accumulate more portions of the asset. On-chain data suggests that long-term holders and whales have bought 0.29% of the total supply in just a week.
Bitcoin Whales Accumulating
Ever since its peak at $69,000 on November 10th, bitcoin’s price has been on the downfall, losing roughly 20% of its value and bottoming below $56,000 just a week later. While this vigorous price drop in a relatively short period could shake off some weak hands, it’s not the case with long-term holders (LTHs) and whales.
The latter group, typically considered entities containing between 100 and 10,000 BTC, has been on a buying spree, as outlined by the analytics company Santiment. They have used the opportunity to

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PlanB: November $98K Bitcoin Target Will Probably be Floor Model’s First Miss

8 days ago

PlanB admitted that his worst-case scenario in terms of BTC’s price movements is about to be proven wrong for the first time. The analyst’s model forecasted a $98,000 price tag for the asset at the end of November, which seems somewhat of a long shot as of now.
PlanB’s Worst-Case Scenario
CryptoPotato has previously reported the accuracy of PlanB’s worst-case scenario (floor model), as he referred to it, which is separate from the popular stock-to-flow model. However, it was quite resilient in the past as it was spot-on for several consecutive months.
The prediction model saw bitcoin closing at $47,000 at the end of August and dropping to $43,000 at September’s end, both of which indeed transpired. October was also nearby, as BTC closed the month at $61,000, while PlanB

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Shiba Inu Hype Over? Google Shows Drop in Interest to 1-Month Low as Price Dumps

8 days ago

Trends in the cryptocurrency industry tend to change rather quickly. People’s attention can go all in a particular asset but could disappear just as quickly.
This seems to be the case with the hottest digital asset of the past few months – Shiba Inu. It was everywhere. From its mind-boggling price surges to different companies trying to get on board to catch the wave, Shiba Inu’s name was discussed left and right not only on crypto media outlets and Twitter but also on more traditional media.
Now, though, the situation has changed. SHIB’s price has cooled off, while the demand for the asset just doesn’t seem to be the same.
Shiba Inu’s Rise to the Top
Despite not being created in 2021 – the year of the meme coins – Shiba Inu’s popularity firstly surged in Q2, when the

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Stripe Considers Reenabling Bitcoin Services, Says CEO

9 days ago

Three years after halting bitcoin payments, citing enhanced volatility and lack of efficiency, the financial services, and software giant Stripe could soon resume its support for cryptocurrencies.
During a CNBC-moderated panel at the Fintech Abu Dhabi festival on Tuesday, John Collison – the CEO of Stripe – spoke about the possibilities of his company reenabling digital asset services.
Although he failed to provide a conclusive response, Collison said the firm has not ruled out such a possibility. More precisely, he said Stripe doesn’t allow crypto payments yet, but “I think it’s not implausible that we would.”
Stripe, a dual-headquartered financial services company based in San Francisco, the US, and Dublin, Ireland, stopped supporting bitcoin payments in 2018. Back then,

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Third-Largest Bitcoin Whale Bought $375 Million Worth of BTC in 11 Days

9 days ago

In a matter of two weeks, one of the largest BTC whales has accumulated more than 6,600 coins as the price of the asset has declined by more than 10% in the same timeframe.
CryptoPotato frequently reports the sales and purchases of this particular whale, which tends to sell when the asset’s price has appreciated significantly in a short period of time and vice-versa.
In the past several weeks, though, they have been focused on accumulating only, as CryptoQuant’s analyst VentureFounder informed.
Starting from November 12th, the entity has made eight consecutive purchases as bitcoin’s price was declining. The first one, for 1,123 BTC, came at just over $64,000, while the last one – from yesterday, was at a price tag of $57,400 and was for 616 BTC.
In total, the whale has

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Max Keiser in El Salvador: Bitcoin As Perfect Money Creates Confidence in Leaders like President Bukele

9 days ago

El Salvador continues to create history with its bitcoin adoption, with the latest initiative being the announcement of an entire city focused on the primary cryptocurrency.
The nation plans to put this plan in the works through mining-backed volcano bonds worth in total $1 billion. While this may sound groundbreaking and surprising to some, one person – Max Keiser – was actually the one to pitch the idea first months ago.
El Salvador’s Bitcoin Steps
It was June 2021 when the small Central American country shocked the world by announcing plans to adopt bitcoin as a legal tender. Somewhat expectedly, global organizations like the IMF, with which El Salvador was in discussions for a near $1 billion program, criticized President Nayib Bukele and his unorthodox approach.
Some

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Oasis Foundation Launches EVM-Compatible ParaTime on Mainnet, Targets NFTs, Gaming

11 days ago

Emerald, the Ethereum Virtual Machine (EVM) compatible ParaTime developed by the privacy-focused blockchain protocol Oasis, has officially seen the light of day on Mainnet. Oasis aims to attract more projects from the DeFi, NFT, and gaming dApps industries onto its network with the move.
The press release seen by CryptoPotato informed of the launch, explaining that Oasis Network wants to provide enhanced DeFi and NFT experience for its user base but only for a fraction of the fees that they pay on Ethereum.
Additionally, Oasis promised “high throughput, and instant transactions” – features supported by the “unique ParaTime architecture.”
So far, the network has processed over four million transactions and consists of 110 active validators and more than 4,000 delegators.

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Market Watch: BTC Eyes $60K, AVAX to Replace DOGE As Top 10?

12 days ago

Bitcoin continues its recovery attempts by touching $59,000, while most of the altcoins have remained stagnant since yesterday. Avalanche is once again the most significant gainer. AVAX charted a new all-time high (again) and is close to surpassing Dogecoin in terms of market cap.
AVAX on a Roll
Most altcoins plummeted in value in the past week or so and tried to bounce off yesterday. Ethereum, for example, went below $4,000 for the first time in over a month shortly after registering its latest ATH of nearly $4,900. However, ETH is now well above $4,300.
On a 24-hour scale, most larger-cap alts have stalled. Binance Coin, Solana, Cardano, Ripple, Polkadot, and Dogecoin are slightly in the red, while Terra is around 0.3% up.
Shiba Inu has lost the most value (-6%) and now

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El Salvador to Build a Bitcoin City: Will Buy $500M More BTC

12 days ago

Just months after adopting BTC as legal tender, the small Central American country plans to create a Bitcoin City with the help of Blockstream and Bitfinex. Separately, the country said it will buy $500 million more of BTC.
Bitcoin City in El Salvador
The country made the news earlier this year by indicating that it will vote to accept the primary cryptocurrency as legal tender. Despite enhanced backlash from global organizations like the IMF, El Salvador’s authorities proceeded and legalized bitcoin as of early September.
Since then, the nation started mining BTC using volcanos, used the so-called “price dips” to buy more coins, and decided to utilize the eventual profits from bitcoin’s appreciating price to build schools and pet hospitals.
During a week-long bitcoin

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Bitcoin Reclaims $58K as Avalanche Taps New ATH (Market Watch)

13 days ago

Following a few days of price nosedives, bitcoin finally bounced off and added more than $2,000 of value. Most altcoins are also well in the green, with Shiba Inu adding double-digit percentages and Avalanche registering a new ATH.
Bitcoin Reclaims $58K
The past several days didn’t go well for the primary cryptocurrency. Shortly after tapping $69,000 for its latest price peak, the asset headed straight down and lost $9,000 in days.
This culminated in a drop to $60,000 on November 16th, where BTC stood for a while. However, the bears stepped up once more and pushed it south again.
This time, the cryptocurrency fell below $56,000 for the first time in over a month. As such, it had lost roughly 20% of its value in ten days, but on-chain data indicated that long-term holders

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Another One: Floki Inu Becomes The Sleeve Sponsor of a Football Team From La Liga

13 days ago

Shortly after collaborating with one of the most popular Indian football clubs, the team behind Floki Inu has announced a partnership with Spain’s Cadiz. The joint venture will see the Floki Inu logo displayed on Cadiz’s jersey sleeves.
The meme coin mania, which skyrocketed in popularity this year, led to the creation of countless Dogecoin spin-offs. As most of them saw the light of day just months ago, they are trying to get ahead with different strategies.
Floki Inu, named after Elon Musk’s new dog, took a more direct approach – through aggressive marketing campaigns, including controversial ads in London, which caught the attention of the local authorities.
The team behind the project has now changed its strategy and has started to form partnerships with sports teams.

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Despite the Crash: Bitcoin Investors Withdrew $1.3B in BTC From Exchanges in Three Days

13 days ago

Despite the recent correction in which bitcoin lost roughly 20% of its value in a week, on-chain data suggests that the liquidity crisis could be increasing. In just three days, exchanges have seen more than 23,000 coins taken off, worth more than $1.3 billion.
$1.3B In BTC Withdrawn From Exchanges in Three Days
Citing data from the blockchain analytics company Glassnode, crypto analyst Ali Martinez outlined the recently enhanced bitcoin withdrawals from digital asset trading platforms.
The on-chain information revealed that the number of withdrawals had seen a dramatic spike in the past several days regardless of bitcoin’s price slump. Overall, over 23,000 coins were moved out of exchanges.
Bitcoin Sitting on Exchanges. Source: GlassnodeThis coincided with recent reports

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Digital Currency Group Completed $600 Million Debt Capital Raise

14 days ago

Grayscale’s parent company has announced that it has increased its credit facility by $600 million through a debt capital raise. The company plans to utilize the funds in order to enhance its investments in its wholly-owned subsidiaries.
Digital Currency Group (DCG) announced the news earlier on November 18th, indicating that Elbridge served as administrative agent of the credit facility.
The event also saw the participation of a syndicate of institutional lenders and funds managed by Capital Group, Davidson Kempner Capital Management, and others.
This is DCG’s entrance into the debt capital markets. The company intends to enhance its “strategic, operational, and financial capabilities by reducing DSG’s cost of capital and fuel the growth of its investment portfolio and

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Crypto Lender Nexo Announces $100M Buyback Program for NEXO Tokens

18 days ago

The popular cryptocurrency lender – Nexo – has announced a buyback program for its native token worth $100 million. The company estimates that the entire process will be completed within the next six months.
Nexo’s $100M Buyback Program
The press release shared with CryptoPotato informed that the company’s Board of Directors had approved the program, authorizing it to “discretionally repurchase” the native token Nexo in the open market periodically. The procedure has already begun and, “depending on prevailing market conditions,” should be completed by Q2 2022.
Depending on how this buyback program goes, the Nexo Board of Directors will contemplate another one based on the results.
Nexo aims to use the repurchased tokens for “investments in strategic targets via token

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Marathon Digital Plans to Buy Bitcoin and Mining Machines, Raises $500M in Debt

18 days ago

One of the largest Bitcoin mining companies in the States – Marathon Digital – plans to raise $500 million through the issuance of senior convertible notes. The firm wants to use the proceeds to buy bitcoin and BTC mining machines.
Founded over a decade ago, Marathon Digital Holdings is among the largest publicly-traded BTC mining companies.
The firm’s announcement from earlier on November 15th outlined its plans to “offer, subject to market and other conditions, $500,000,000 aggregate principal amount of convertible senior notes due 2026.”
The company’s offering will be a private one to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. If certain conditions are met, the total raised amount could rise by an additional $75 million.

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Bitcoin Consolidation Continues, Avalanche Touched $100, Breaking New ATH (Market Watch)

19 days ago

Following the past few days of enhanced volatility, bitcoin has calmed around $64,000. Most alternative coins have also remained untypically stagnant on a 24-hour scale, with the apparent exception of Avalanche, which went on a roll and registered a new ATH.
Bitcoin’s Consolidation Rolls On
Last week was going quite well for the primary cryptocurrency as it had recovered from its dip to $60,000 and went on to chart new records. It broke the October peak of $67,000 on Tuesday and did it once more a day later, with the latest ATH standing at $69,000.
However, it couldn’t continue north. Just the opposite, it slumped by $6,000 in a day and dropped below $63,000.
The asset bounced off initially and reclaimed $65,000 before another price decline drove it to a weekly low of just

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Crypto Market Cap Lost $100B in a Day as Bitcoin Dropped to a Weekly Low

20 days ago

The bears continued to push bitcoin south in the past 24 hours, and the asset dropped to a weekly low of just over $62,000. Most altcoins are also in the red, with Litecoin losing the most value in a day.
Bitcoin Saw a Weekly Low
Just a few days ago, the primary cryptocurrency broke its previous ATH two times in a row, and the latest peak came at $69,000.
As the community was anticipating another run up to $70,000, the entire landscape changed. Instead of going upwards, bitcoin headed straight south. In just a matter of hours, BTC lost more than $6,000 of value to an intraday bottom of $63,000.
It bounced off initially and went above $65,000, as reported yesterday. However, this price increase was also short-lived, and the bears drove it downwards once more. This time, the

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The SEC Rejected VanEck’s Spot Bitcoin ETF Application Citing Investor Protection

20 days ago

The United States Securities and Exchange Commission has rejected VanEck’s proposal for a spot Bitcoin ETF. This comes after several delays by the agency.
The global investment manager VanEck has been among the most active companies when it comes down to filing with the SEC to launch a Bitcoin ETF.
In the past several years, the firm had numerous applications, with some rejected by the agency and others it had to withdraw on its own.
However, the landscape in the States changed in October this year when the SEC allowed two futures-based Bitcoin ETFs to go live, one of which was VanEck’s Strategy ETF.
As such, many believed that the Commission will be more open-minded towards a spot exchange-traded fund tracking the performance of the primary cryptocurrency.
So far, though,

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Del Piero, Vieri, and Batistuta to Launch NFT Collections on Binance Marketplace

21 days ago

The NFT marketplace of the leading cryptocurrency exchange will host the digital collections of soccer legends such as Alessandro Del Piero, Christian Vieri, and Gabriel Batistuta.
With the growing demand for non-fungible tokens, Binance launched such a marketplace earlier this year and has already become the home of many digital collections, including some from the soccer space.
The company announced the latest NFT set to go live on its platform in a press release seen by CryptoPotato.
It outlined the names of the soccer legends, all known to fans from the not-so-distant past from the Italian Seria A championship.
Namely, those are the former captain of Juventus and the Italian national team – Alessandro Del Piero, the Inter legend known as the King by fans and teammates

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If Grayscale Was an ETF, it Would Have Been The 19th Largest with AUM of $60B

22 days ago

Following yesterday’s price increases and new records, the world’s largest digital asset manager reached an ATH of its own in terms of AUM by topping $60 billion.
Interestingly, if the company operated as an exchange-traded fund, it would have been the 19th-largest.
If ETF, Grayscale Would Be in Top 20
Launched in 2013, Grayscale is the largest cryptocurrency asset manager with an AUM of over $60 billion as of yesterday’s update. To have a clear view of this meteoric rise, one should keep in mind that just two years ago – at the end of 2019 – the AUM stood at roughly $2 billion. It increased by ten-fold in 2020 and is now 200% up 2021.
Aside from being the leader in the cryptocurrency industry, these numbers have propelled Grayscale into the main stage scene among

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On a Roll: Bitcoin Tops ATH Again, Surges $3,000 in Hours

23 days ago

After being stuck around $66,000, bitcoin initiated an impressive leg up, added $3,000 of value in minutes, broke its previous all-time high, and registered a new one at $69,000.
CryptoPotato reported less than 48 hours ago when the primary cryptocurrency broke its October ATH of $67,000 and painted a new all-time high at $68,600 (on CoinGecko).
The asset calmed in the following day and a half and remained around $66,000 following a minor retracement.
However, it seems the highly bullish Q4 2021 run will not be stopped this easily, and BTC went on the offensive once more.
In just a matter of minutes, the cryptocurrency skyrocketed by $3,000 and registered a new all-time high of $69,000 (on Bitstamp).
Despite retracing by a few hundred dollars since the latest peak,

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Reddit Co-Founder and Solana Ventures to Invest $100M in a Decentralized Social Media

23 days ago

During the ongoing Solana Breakpoint conference in Lisboa, Ohanian said he wants to participate in the development of a decentralized social media based on the Solana blockchain, which is the reason behind the multi-million dollar investment.
The American Internet entrepreneur, arguably best known for his role of co-founding Reddit, outlined his plans at the Breakpoint conference earlier on November 9th.
While speaking to Solana’s co-founder – Raj Gokal – Ohanian firstly said that he plans to invest $50 million through his venture capital fund.
However, Gokal added that the amount might not be enough. As such, he indicated that the entire investment will indeed be worth $100 million.

“With a high-performance blockchain like Solana, there is an unprecedented opportunity to

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SolFlare Launches Mobile App Wallet for the Solana Community

24 days ago

SolFlare, the popular wallet built for the Solana blockchain, has launched Android and iOS mobile versions. Aside from buying, selling, and storing SOL and Solana-based tokens, users will also be able to stake them through the app version.
SolFlare’s Mobile SOL Wallet Arrives
The press release shared with CryptoPotato explained that the newly-launched mobile version of the SolFlare wallet is the first Solana mobile wallet supporting such features as the aforementioned ones.
Customers will be able to download the app for free from the Play Store or the App Store, and all services have been integrated already. Meaning, the mobile version will provide the same benefits as its web counterparty and the browser extension.
“SolFlare Mobile will facilitate Solana users to

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Michael Saylor and Max Keiser Explain the Potential Benefits of Elon Musk Converting Tesla Shares to Bitcoin

26 days ago

Elon Musk has asked his millions of Twitter followers whether to sell 10% of his Tesla stock. The question is what to do with the proceeds, and bitcoin proponents, such as Michael Saylor and Max Keiser, have explained the benefits if he decided to buy BTC with the money.
Musk to Sell 10% of His Tesla Stock?
The CEO of the world’s largest EV maker took a rather unorthodox approach in regards to his financial future. He asked his multi-million fan base on Twitter whether he should sell 10% of his personal Tesla shares.
While many in the comments have speculated on what could be the real reason behind his contemplation, Musk argued that it’s because of the recent discussion about tax avoidance and unrealized gains.
Elon Musk Twitter Poll. Source: TwitterWith just a few hours

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