Elon Musk offloads $1.1B in Tesla stock

According to financial filings, Tesla CEO Elon Musk sold more than $1B worth of shares.
Filings submitted on Thursday to the United States Securities and Exchange Commission confirm the sale of more than 934,000 Tesla shares worth around $1.1 billion.

Musk bought the shares for an average of $1,170. This lock-in nearly 180% price gains over the last year. This is Musk’s third sale of company stock, and his biggest transaction since Tesla became public on Nasdaq.
According to filings, Musk had planned to sell his stock in order fulfil his September tax obligations. He polled his 63 million followers on the weekend, asking whether he should sell 10% of his Tesla holdings. Nearly 58% of the nearly 3.5 million participants said yes. Tesla CEO Elon Musk has not sold more than 1% of these shares and still owns over 170,000,000 shares.

He responded to the survey by stating, “I don’t take any cash bonus or salary from anyone.” Stock is all I have, so the only way to pay taxes for myself personally is to trade stock.
The stock of Tesla (TSLA), which plunged to below $1,000 on Wednesday, fell 16% in the days that followed the poll.

TSLA reached an all-time record of $1,230 on Nov. 4 and is now around 11% below that mark.
Bitcoin dips below $67K as Tesla stock slump combines with Apple CEO denying crypto plans

In crypto circles, there has been some speculation that he might invest some of the cash in digital assets. Mr. Whale asked> his 357,000 followers: “Which cryptocurrency should he buy to make himself the first-ever trillionaire?”

MicroStrategy CEO Michael Saylor suggested he buy more Bitcoin BTC following the Twitter poll but before the news emerged about this sale.
According to BitcoinTreasuries, Tesla currently holds 43,200 BTC worth an estimated $2.79 billion at current prices.

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