Tesla decided to sell three-quarters of its bitcoin during the second quarter of 2022.
What
Known
Judging by the report of the American manufacturerelectric vehicles between April and June 2022, it converted 75% of its Bitcoin into fiat currency. The sale of cryptocurrency brought Tesla $936,000,000.
Elon Musk has already commentedsale of digital assets. According to him, getting rid of Bitcoin was caused by the company's desire to increase the level of liquidity against the backdrop of COVID restrictions in China. However, the billionaire noted that Tesla has not yet sold a single Dogecoin coin. The head of Tesla does not exclude that the company will continue to invest in Bitcoin in the future.
Note that TSLA shares, according to Yahoo Finance,are currently trading at $742.5. Tesla's total profit for the quarter was almost $17,000,000,000. Meanwhile, the price of Bitcoin is about $23,000.
Source: The Guardian
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