Musk says Tesla sold Bitcoin to prove liquidity as cash alternative

Musk says Tesla sold Bitcoin to prove liquidity as cash alternative
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(April 27): Tesla sold 10% of its Bitcoin holdings to prove the cryptocurrency’s liquidity as an alternative to holding cash on the balance sheet, CEO Elon Musk said in a tweet reply.

Musk added that he has not sold any of his personal Bitcoin.

No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on balance sheet.
— Elon Musk (@elonmusk) April 26, 2021

He was responding to a separate tweet from Barstool Sports President Dave Portnoy who claimed that Musk bought Bitcoin, pumped it and then dumped it to make a fortune.