‘Tesla selling bitcoin is a good thing’

There has been a cursory rush in the cryptocurrency market ever since Tesla made the move to sell its bitcoin holdings. There are different reactions from market experts and big crypto investors in this regard. On the one hand, while there is a wave of despair in the minds of crypto investors, on the other hand some bigwigs find it a positive move for the market. One such statement has come from Tron’s founder Justin Sun. Justin Sun has called Tesla’s sale of a large chunk of his bitcoin holdings a good step for the future of the cryptocurrency market.

News of the world’s top EV maker Tesla selling 75% of its bitcoin holdings has rocked the cryptocurrency market once again. But Tron’s founder Justin Sun has called it good news. Justin says that the cryptocurrency market should not be affected by Tesla’s move. Justin, the founder of Tron (TRX) and BitTorrent (BTT), said electric car maker Tesla’s sale of bitcoin suggests that the cryptocurrency could provide liquidity to even large corporations like Tesla.

Justin Sun said that by selling bitcoin, Tesla has set an example for all large corporations that hold bitcoin. He further said that Tesla’s move can inspire big companies to invest in crypto in the coming times. Justin has also thanked Elon Musk for this.

The long bearish cryptocurrency market was just beginning to recover from the downturn that after Tesla’s move, the digital currency sector is once again seeing a bear trend. Tesla, the world’s top electric car maker, sold 75 percent of its bitcoin holdings on Wednesday. Tesla now has cryptocurrencies worth about $218 million (about Rs 1,742 crore). Tesla bought bitcoins worth $1.5 billion (about Rs 12,000 crore) in February 2021, taking the price of bitcoin to a new high.

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