Elon Musk To Sell Shares To Fund Twitter ; Will His Crypto Holdings Be Affected?

Tesla’s shares fell 5.56% on Tuesday as rumors emerged that Musk can be promoting off a few of his intensive holdings of the corporate’s shares to assist fund his Twitter buy, per information from the Lead Lag report.

Extra not too long ago on April 29, it was confirmed that Musk had offered about $8.5 billion price of Tesla shares. Musk himself mentioned that the quantity can be all of the shares of the corporate he would unload.

Will Musk promote his cryptocurrencies too?

In keeping with a Reuter report, Musk is trying to increase the remainder of his $44 billion bid from banks. This means that he’s persevering with to maintain his cryptocurrency holdings as he beforehand said in March of this 12 months.

The transfer factors to his confidence within the crypto property he holds together with Bitcoin (BTC), Ethereum(ETH), and Dogecoin (DOGE). Recall that the billionaire beforehand revealed that aside from shares of his firms, these three cryptocurrencies make up the most important a part of his private property.

Musk lays out extra plans for Twitter

As Musk is getting nearer to his aim of taking Twitter non-public, he has been laying out extra plans for the corporate. The aforementioned Reuters report revealed that the Tesla CEO shared extra of his plans with the banks he’s in fundraising discussions with.

Musk famous that he’ll vastly improve the platform’s income and introduce new options. Among the many revenue-increasing plans is a proposal to cost web sites a price when a viral tweet from verified Twitter accounts is quoted, in addition to modifications to Twitter Blue.

It has additionally emerged that he’s contemplating a crackdown on the pay of executives and can in all probability appoint a alternative for Parag Agrawal who turned CEO final November.

[4/30, 9:36 PM] Finer than yo daddy: Non-Fungible Tokens (NFT) have been one of many hottest sectors within the crypto market not too long ago. That is most strongly emphasised by the efficiency of OpenSea, the most important NFT market by gross sales quantity within the final week.

Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency house for two years now. Beforehand he co-founded Govt. of India supported startup InThinks and is presently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has printed greater than 100 articles on cryptocurrency and blockchain and has assisted numerous ICO’s of their success. He has co-designed blockchain improvement industrial coaching and has hosted many interviews in previous. Observe him on Twitter at @sharmasunil8114 and attain out to him at sunil (at) coingape.com

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