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Elon Musk Threatens to Dump All of Tesla's Bitcoin Holdings, Pushing BTC to Multi-Month Low

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Tesla CEO Elon Musk is now threatening to remove Bitcoin from Tesla’s balance sheet after days of arguing with the disgruntled community.

Source: u.today

In a reply to a shady Twitter account that warns Bitcoiners about the e-car manufacturer potentially removing the largest cryptocurrency from its balance sheet due to all the hate the billionaire is getting right, Musk replied that it could “indeed” happen.

Image by @elonmusk

In a separate tweet, Musk claims that Bitcoin is highly centralized because it is controlled by a handful of mining companies:

Bitcoin is actually highly centralized, with supermajority controlled by handful of big mining (aka hashing) companies. A single coal mine in Xinjiang flooded, almost killing miners, and Bitcoin hash rate dropped 35%. Sound “decentralized” to you?

Bitcoin dipped to $45,127, the lowest level since May 1, shortly after Musk’s warning.

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