Tesla CEO Elon Musk asked his Twitter followers if he should sell his Tesla stock. He also pledged to follow the poll’s results. Many are urging Musk to sell Tesla shares and invest in cryptocurrency, especially bitcoin.

Elon Musk asks his Twitter followers to decide whether to sell Tesla shares; most said yes

Tesla CEO Elon Musk set up a poll on Twitter Saturday asking his 62.7 million followers to decide whether he should sell 10% of his Tesla stock. “Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock. Musk tweeted, “Do you support this?”

In a follow-up tweet he stated that he doesn’t take any cash salary or bonuses from anywhere. He also said, “I only own stock, therefore the only way for my taxes to be paid personally is to sell it.”

I will follow the results of this poll in any way they go.

Musk has received a lot of media attention. It received more than 3.5 million votes, 57.9% of which said “Yes.” The tweet has been liked 111.5K times and retweeted 22.1K times.

On Friday, Congress passed the $1.2 trillion U.S. Infrastructure bill after chopping down its hotly-debated tax plan on unrealized capital gains aimed at billionaires. This part of the bill was split into a separate bill worth $1.9 trillion that will be voted on later.

The Tesla boss, now the world’s richest man with a net worth of at least $318.4 billion according to Forbes’ list of billionaires, has made several tweets criticizing the bill over the past few weeks.

Many bitcoiners participated in the poll thread to express their opinions to Musk. A number of people suggested that Musk should use the proceeds from selling his TSLA stock to buy BTC. For example, Microstrategy CEO Michael Saylor suggested: “If the goal is diversification, an alternate strategy to consider is converting the TSLA balance sheet to a Bitcoin Standard and purchasing $25 billion in BTC. This would provide diversification, inflation protection and more upside for all investors in an efficient tax-efficient way .”

Former Tesla employee Michael Rihani is now the crypto product leader at Jack Dorsey’s Square Inc. He tweeted his old boss:

Yes, sell to receive $10B+ USD and buy bitcoin with it. You’ll turn that $10B+ into $100B+ and can use the proceeds to (1) increase the odds of fulfilling the Tesla and Spacex missions and (2) helping even more people and countries.

Some Musk followers believe that the Tesla billionaire will invest some money in the meme cryptocurrency dogecoin. Musk, also known as the Dogefather, has long been a supporter of DOGE, calling it “the people’s crypto.” He recently revealed that he personally owns three cryptocurrencies: bitcoin, ether, and dogecoin.

Not everyone was happy with the poll. Some were concerned that selling 10% of Musk’s Tesla position will tank the TSLA stock’s price on Monday morning. Others felt it was a bad idea to allow Twitter users to decide what to do about so much wealth.

U.S.

U.S.

Whether or not the world’s wealthiest man pays any taxes at all shouldn’t depend on the results of a Twitter poll. The Billionaires Income Tax is now.

Last week, Musk offered to sell his Tesla shares if it would solve the world hunger problem. Musk responded to the comment of WFP’s director that 2% of his wealth could solve the world hunger problem. He wrote: “If WFP can explain on this Twitter thread exactly $6B will solve the world hunger problem, then I will sell Tesla stock now.”

Musk’s shareholding in Tesla comes to about 170.5 million shares as of June 30. Selling 10% of his stock would amount to about $21 billion based on Tesla’s current stock price.

What do you think of Elon Musk’s Twitter poll? What do you think of Elon Musk’s Twitter poll? Please let us know your thoughts in the comments below.

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