Hoskinson Reacted To Elon Musk’s statement, that Tesla Has No Intention Of Selling Its Bitcoin.

Seems the IOG chief hasn’t given up slamming the Bitcoin maximalists as the incident of Tesla’s massive selloff of its Bitcoin.

Tesla Selloff 75% Of Its Bitcoin

As reported by Crytpolifedigital, In the letter sent to Tesla shareholders by Elon Musk, Tesla’s head, he revealed that he sold 75% of their Bitcoin holdings and accumulate a total of $936 million. Tesla revealed how he fought the inflation and economic meltdown in its full Q2 2022 financial report. He explained he sold the Bitcoin because of the incident of liquidity of the company given COVID-19.

He further stated that the massive sold-out should not be taken as any verdict on the flagship cryptocurrency.

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IOG Reacted To Elon Musk Statement

Charles Hoskinson, IOG CEO made a gif video saying “WHOOPS! LOOKS LIKE THAT DIDN’T WORK EITHER,” commenting on the massive selloff of Tesla and referring to the statement the Centibillionaire made last year that Tesla has no intention of selling its Bitcoin.

One of the Hoskinson Twitter followers by name Michael Liesenfelt, stated that the Bitcoin/PoW was never in line with Tesla’s fundamental mission, values, and principles.

One of the Bitcoin enthusiasts, Michael Saylor reacted that if it happen that Tesla sold 75% of its Bitcoin then 25% will be left behind for the company.

Bitcoin Is A Commodity

it is good to know that Michael is a strong proponent of Bitcoin, his love for Bitcoin has made him recognize Bitcoin as the only coin that has the property of commodity and regarded every other altcoin such as Ethereum, Cardano, and like as security.

IOG chief later responded to the view of this crypto giant by referring to all the Bitcoin maximalists as intellectually dishonest persons, adding that they are “the most difficult, toxic and useless people to engage with,” in response to claims by Michael Saylor that altcoins are securities while Bitcoin is not.