- After the Twitter acquisition final month, Elon Musk bought 19.5 million Tesla shares as per an SEC submitting.
- Musk’s acquisition of Twitter has sparked an curiosity in whether or not he could be buying Dogecoin (DOGE) sooner or later as a part of his portfolio.
Quickly after closing his Twitter deal final month, the world’s richest man Elon Musk reportedly bought $3.95 billion price of his Tesla (NASDAQ: TSLA) inventory holdings. As per the filings submitted to the U.S. Securities and Trade Fee (SEC), Elon Musk bought 19.5 million extra Tesla shares not too long ago.
This yr itself, Musk has dumped practically $19 billion price of Tesla inventory, after already promoting $21 billion price of TSLA inventory in 2021. The current sell-off comes as Musk seeks capital to fund his $44 billion Twitter acquisition.
On Tuesday, Nov 8, the Tesla inventory (NASDAQ: TSLA) as soon as once more got here below promoting stress because the information relating to Musk’s inventory sale broke out. The TSLA inventory ended buying and selling 3 % down at a worth of $191.70 With the current plunge within the Tesla inventory worth, Elon Musk’s internet price plunged from over $200 billion, all the way in which to $194 billion.
Because the talks of the Twitter deal in April, Musk has misplaced $70 billion of his whole internet price. A majority of this drop has been as a result of correction within the TSLA inventory this yr. Whereas the Nasdaq Composite is down 33 % this yr, the TSLA inventory is down greater than 52 % for the reason that starting of 2022.
Nonetheless, Musk nonetheless continues to benefit from the tag of the world’s richest man. Additionally, his internet price remains to be $40 billion greater than the second-richest man on the planet.
Will Elon Musk purchase Dogecoin?
Elon Musk has been one of many greatest proponents of memecoin DOGE over the previous couple of years. Apparently, Elon Musk is of the view that Dogecoin is healthier than Bitcoin as a cryptocurrency for every day funds. Previously, previous to buying Twitter, Elon Musk hinted at getting Dogecoin (DOGE) funds for Twitter.
As Musk formally took over Twitter final month, the Dogecoin (DOGE) worth witnessed a large worth rally gaining practically 150 % in every week’s time. The DOGE neighborhood celebrated Musk’s Twitter acquisition adopted by a powerful retail buy of the memecoin. Dogecoin (DOGE) has corrected from its 2020 excessive however the continues to be among the many high ten digital belongings by market cap.
Nonetheless, for the reason that Twitter acquisition, Elon Musk has remained silent over the Dogecoin-Twitter integration. Throughout Halloween, he simply teased a picture of his Shiba Inu canine sporting a Twitter t-shirt hinting at a possible integration sooner or later. As Musk has been promoting his Tesla inventory so quickly, it’s unlikely that he’ll put that cash in DOGE or every other crypto at this level.
Musk’s focus majorly has been on getting issues proper at Twitter. In the course of the convention final week, Musk informed Musk informed hedge fund supervisor Ron Baron: “As soon as Twitter is ready on the best path, I feel it’s a a lot simpler factor to handle”.
Earlier this yr in July, Tesla additionally liquidated 75 % of its Bitcoins taking the trade unexpectedly. Musk beforehand acknowledged that he was critical about holding the crypto for a very long time.