24/7 Cryptocurrency News

Breaking: Elon Musk Sells $3.95 B Tesla Shares, Stock Plummets

SEC filings reveal that Elon Musk sold 19.5 million Tesla shares, worth more than $3.96 Billion. How will this impact Tesla's crypto holdings.
Published by
Breaking: Elon Musk Sells $3.95 B Tesla Shares, Stock Plummets

Tesla Founder and CEO, Elon Musk, has sold 19.5 million shares of Tesla. The filings from the Securities and Exchange Commission reveal that Musk has sold over $3.95 Billion. So far, Musk has not explained the reason for this sale. However, Tesla’s stock continues to struggle. It fell by 2.93% in the last 24 hours and fell a further 0.68% in the after-hours.

Advertisement

Why Is Elon Musk Selling Tesla Shares

Elon Musk is currently handling a smooth transition of power at the newly acquired Twitter. Musk initially offered to purchase Twitter at $44 billion. This equates to a price of $54.20 per share. However, Musk pulled out of the deal claiming that Twitter underreported its bots issue. Twitter sued Musk to force him to buy the company at the initial offer.

The last time Musk sold his Tesla shares, he was engaged in a legal battle with Twitter. He informed his followers that the sale was a preparation for an emergency scenario in case Twitter forces him to close the deal. He also stated that he will not sell his shares again for a long time.

Since then, Musk informed the Twitter board that he will acquire Twitter at the original price. He fired the CEO, CFO, and many senior executives along with the Twitter board. However, despite all-time high usage after the acquisition, the company may be struggling financially. Several major companies such as United Airlines, Pfizer, and Audi have pulled their advertisements from the platform.

Musk showed a significant shift in his tone regarding content moderation after the acquisition. He reiterated several times that the company has not made any changes to the moderation policies. The macroeconomic downturn may also be the reason behind the Tesla shares sale.

Advertisement

Will This Affect Crypto Holdings

Due to economic uncertainty, Tesla sold a lot of its Bitcoin holdings for cash. Musk and Tesla both hold a significant amount of crypto. With Musk selling Tesla shares, whether or not he offloads his crypto holding becomes a major issue.

Advertisement

Share
Nidhish Shanker

Nidhish is a technology enthusiast, whose aim is to find elegant technical solutions to solve some of society's biggest issues. He is a firm believer of decentralization and wants to work on the mainstream adoption of Blockchain.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Michael Saylor Says “No New Orange Dots” Pausing Bitcoin Buys as Holdings Hit Record $79B

Michael Saylor hinted that Strategy would not be making its routine Bitcoin purchase this week.…

October 5, 2025
  • 24/7 Cryptocurrency News

Experts Turn Bullish on Pudgy Penguins as PENGU Leads Meme Coin Buys on Solana

Crypto experts have begun to make bullish projections for Pudgy Penguins’ native token, PENGU. This…

October 5, 2025
  • 24/7 Cryptocurrency News

ASTER to Launch Phase 2 Airdrop on October 10 as Open Interest Tops $5B in Two Weeks

ASTER has announced that the roadmap for its second airdrop phase is set to begin…

October 5, 2025
  • 24/7 Cryptocurrency News

El Salvador’s Bitcoin Holdings Hit $475M Profit as BTC Becomes World’s 7th Largest Asset

El Salvador is now sitting on $482 million in unrealized gains in its Bitcoin holdings.…

October 5, 2025
  • Bitcoin News

Breaking: Bitcoin Hits New ATH Above $125k as ‘Uptober’ Kicks Off in Full Force

The Bitcoin price has hit a new all-time high, after staging a monstrous rally since…

October 5, 2025
  • Bitcoin News

99.3% of Bitcoin Supply in Profit, Analyst Warns of Short-Term Correction

Bitcoin (BTC) is in profit on almost all of its supply, leading to discussion by…

October 5, 2025