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CEO Binance reacts to Elon Musk selling his cryptocurrency holdings

CEO Binance's Reaction: Trading of bitcoin, no impact on currency

Tesla and SpaceX founder Elon Musk has sold most of his cryptocurrency holdings, prompting a reaction from CEO Binance.

Binance CEO Changpeng Zhao said that if someone buys or sells bitcoin, he does not think it will have a negative impact on the currency, even if it’s Elon Musk.

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He also said that he currently owns most of the cryptocurrency coins. While highlighting how the Tesla founder sold 75 percent of cryptocurrency, Changpeng Zhao said that it was his personal decision and it will not affect the company in any way.

It is to be noted that last year, Tesla disclosed a large investment in Bitcoin, but has now sold most of its holdings in the cryptocurrency. According to international media reports, the electric car maker said it has sold about 75 percent of its bitcoin holdings, which were worth $2 billion. According to media reports, the electric car maker is backing out of its deal as the cryptocurrency has fallen below 50 percent this year.

 

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