Tesla has sold about 10 percent of its bitcoins to show that bitcoins can be quickly converted to dollars without causing too much movement in the cryptocurrency market. This is what CEO Elon Musk said on Twitter last night.
Meanwhile, a bitcoin costs $ 39,348, an increase of over 12 percent in the last 24 hours.
Musk’s tweet was a response to an accusation of price manipulation addressed to him in an article on CoinTelegraph.
“This is incorrect. Tesla sold about 10 percent of its [bitcoin] assets to show that bitcoin can easily be liquidated without moving the market,” Tesla founder said.
Musk also said that if bitcoin is no longer so polluting, Tesla will again allow transactions in the cryptocurrency.
Tesla invested about 1.5 billion dollars in bitcoins in January this year. In mid-May, Musk reported that Tesla does not sell bitcoins.