Heir to late construction tycoon William Pulte says Tesla and Bitcoin could both go down in the next six months
Michigan millionaire Bill Pulte, the grandson of late construction tycoon William Pulte behind Atlanta-based PulteGroup, soured on Bitcoin, saying he’s not actively buying it at the moment in a recent tweet .
A lot of teammates ask me if I’m actively buying Bitcoin and Tesla right now, and the short answer is NO. I think the next six months could see some downdrafts in both Bitcoin and Tesla, so I’ll make sure to buy more at lower prices. Thank you. https://t.co/cd8n6hQr36
— Pulte (@pulte) January 14, 2022
The heir, who is known for his charitable efforts, believes the flagship cryptocurrency and shares of electric car maker Tesla could “see some downdrafts” over the next six months. He expects to buy more at lower prices.
Bitcoin, the main cryptocurrency, is down 37.59% from its all-time high.
Pulte, who has a personal net worth of around $100 million, has gained a huge following on Twitter for donating money to those in need. In 2019, the heir gave $30,000 to a Tennessee veteran after former US President Donald Trump tweeted his request.
The 33-year-old philanthropist quit PulteGroup’s board in 2020 after a falling out with other board members. He was particularly opposed to moving the homebuilding giant’s headquarters to Atlanta.
He is the CEO of a private equity firm called Pulte Capital Partners.
Over the past few years, Pulte has become one of Bitcoin’s leading proponents, arguing that it has the potential to lift people out of poverty. He claimed that cryptocurrency could reshape philanthropy by enabling decentralization and reducing the cost of transferring funds.
Last August, Pulte tweeted that Bitcoin would end up being “incredibly valuable”, catching the attention of the cryptocurrency community.
#Bitcoins is going to be incredibly valuable
— Pulte (@pulte) August 12, 2021
Shortly after buying Bitcoin in late 2019, Pulte started giving away crypto on Twitter.
Cryptocurrency can help the world’s poorest…especially the unbanked…as a philanthropist, I want to promote adoption. Leave a comment on why you need bitcoin and I’ll choose someone to send satoshis to… Yes, it’s real 😊…
— Pulte (@pulte) December 14, 2019