Dogecoin Co-Founder Wonders Why People Freak Out When Investors Sell Bitcoin

Dogecoin co-founder Billy Markus has expressed his dismay on Twitter after witnessing people panicking because of the rising massive Bitcoin sales.

Markus added that the daily sale of Bitcoins totals actual millions. So if no one is willing to sell bitcoin, no one will purchase it. The outspoken DOGE founder further believes that the people panicking are those who do not believe in the value of BTC.

“Anyway, if you believe in your magic internet money, no one selling it would make you freak you because who cares.”

https://twitter.com/BillyM2k/status/1549905770736947200?s=20&t=j0Rxp7heHabfrf9lGpW65A

Dogecoin Founder Addresses Tesla’s Bitcoin Sales

Elon Musk’s electric car company, Tesla, took the crypto world by surprise when it announced that it had liquidated nearly a billion dollars worth of Bitcoin.

The electric vehicle manufacturer said in its financial report for the second quarter of 2022 that it had liquidated 75% of its Bitcoin assets. The total amount the business received for the coins’ sale was $963 million.

Despite this development, Tesla’s Dogecoin assets are still secured, and the company continues to acknowledge and accept the memecoin as a valid form of payment for merchandise.

Earlier this year, the corporation revealed it had acquired $1.5 billion worth of the cryptocurrency using its balance sheet cash. It would eventually start accepting payments in BTC for its automobiles.

As a result of that statement, crypto markets shot up, pushing up the values of many cryptocurrencies and establishing Musk as the unofficial leader in the industry. But, as it turned out, this goodwill was reversed when he abruptly stated that they were cancelling plans to accept cryptocurrency payments.

Despite the recent controversies surrounding the Tesla boss, Elon Musk is still one of the leading proponents in the crypto world.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.