Elon Musk should sell his bitcoin

Elon Musk should sell his bitcoin

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Allen Farrington started this petition to Elon Musk

Elon Musk has accumulated at least $1.5bn of bitcoin on the Tesla balance sheet, and very likely has a larger personal holding he has not revealed.

Meanwhile, Musk has doubled down on endorsing Dogecoin, a literal joke, claiming to be working with the nonexistent development team and mooting integrating the cryptocurrency into SpaceX. While it seems relatively clear to those in the know that this is, itself, a joke, there are tens - possibly hundreds - of thousands of retail investors who will not realize this and will do significant harm by listening to the advice of this charlatan, all the while being led further away from ever understanding or taking Bitcoin seriously.

Since this furore, Musk has confirmed that Tesla has not, in fact, sold any bitcoin. This is unacceptable. Far be it from a Bitcoiner to clamour for regulation, but it is worth pointing out that, were Bitcoin or Dogecoin regulated securities, this entire charade would be securities fraud, and Musk would go to jail.

But we should not be agitating for violence, just honesty and consistency. If Musk is going to commit to this unfunny, legitimately harmful joke, he should do so properly. If he isn't going to shut up - a highly unlikely proposition - he should at least put his money where his diarrhoeic mouth is. He should sell his bitcoin, and hope it all ends up with a better custodian. If poetic justice prevails, that might just end up being somebody he was on the cusp of ruining over doge.

Elon Musk: sell your bitcoin.

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