News

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

Published by
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 would be selling off some of his extensive holdings of the company’s shares to help fund his Twitter purchase, per data from the Lead Lag report.

More recently on April 29, it was confirmed that Musk had sold about $8.5 billion worth of Tesla shares. Musk himself said that the amount would be all the shares of the company he would unload.

Advertisement

Will Musk sell his cryptocurrencies too?

According to a Reuter report, Musk is looking to raise the rest of his $44 billion bid from banks. This implies that he is continuing to keep his cryptocurrency holdings as he previously stated in March of this year.

The move points to his confidence in the crypto assets he holds including Bitcoin (BTC), Ethereum(ETH), and Dogecoin (DOGE). Recall that the billionaire previously revealed that apart from shares of his companies, these three cryptocurrencies make up the largest part of his personal property.

Advertisement

Musk lays out more plans for Twitter

As Musk is getting closer to his goal of taking Twitter private, he has been laying out more plans for the company. The aforementioned Reuters report revealed that the Tesla CEO shared more of his plans with the banks he is in fundraising discussions with.

Musk noted that he will greatly increase the platform’s revenue and introduce new features. Among the revenue-increasing plans is a proposal to charge websites a fee when a viral tweet from verified Twitter accounts is quoted, as well as changes to Twitter Blue.

It has also emerged that he is considering a crackdown on the pay of executives and will probably appoint a replacement for Parag Agrawal who became CEO last November.

[4/30, 9:36 PM] Finer than yo daddy: Non-Fungible Tokens (NFT) have been one of the hottest sectors in the crypto market recently. This is most strongly emphasized by the performance of OpenSea, the largest NFT marketplace by sales volume in the last week.

Advertisement

Share
Sunil Sharma

Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO's in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on X at @sharmasunil8114 and reach out to him at sunil (at) coingape.com

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

  • News

Will Bitcoin Rally as JPMorgan Tips Fed To End QT at FOMC Meeting?

Bitcoin traders are turning their attention to this week’s Federal Open Market Committee (FOMC) meeting.…

October 26, 2025
  • News

White House Crypto Czar Backs Michael Selig as ‘Excellent Choice’ To Lead CFTC

White House crypto czar David Sacks has shown his support for Donald Trump's nomination of…

October 25, 2025
  • News

Ripple Explores New XRP Use Cases as Brad Garlinghouse Reaffirms Token’s ‘Central’ Role

Crypto firm Ripple has revealed that it is exploring new ways to use XRP within…

October 25, 2025
  • News

Kyrgyzstan Adds Binance Coin (BNB) to National Crypto Reserve, CZ Confirms

Kyrgyzstan has made a significant move in the adoption of digital finance. It has now…

October 25, 2025
  • News

Ripple-Backed Evernorth Grows XRP Treasury to $1B Ahead of Nasdaq Listing

Ripple-backed Evernorth's XRP treasury has grown to $1 billion just days after the company announced…

October 25, 2025
  • News

Trump Tariff Tensions Ease as U.S. and China Hold Positive Trade Talks Ahead of Oct 30 Summit

In fresh developments, the United States and China’s trade teams have commenced negotiations on the…

October 25, 2025