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 the late construction mogul William Pulte behind Atlanta-based PulteGroup, has soured on Bitcoin, claiming that he’s not actively buying it at the moment in a recent tweet.
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 top cryptocurrency, is down 37.59% from its record 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 left PulteGroup’s board of directors in 2020 after a falling-out with other board members. He particularly opposed moving the home construction 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 emerged as a major Bitcoin proponent, arguing that it had the potential to help people out of poverty. He claimed that the cryptocurrency could reshape philanthropy by enabling decentralization and bringing down remittance costs.
Last August, Pulte tweeted that Bitcoin would end up being “incredibly valuable”, catching the attention of the cryptocurrency community.
Shortly after buying Bitcoin in late 2019, Pulte started giving away crypto on Twitter.
