Tesla sold 75% of its bitcoins

Tesla released its financial report for the second quarter of 2022, according to the information contained in it, the company sold 75% of its bitcoins after only one year. It has been bought and sold. The electronic car maker also announced that the sale added $936 million to the company's balance sheet in the second quarter of 2022.

BingMag.com Tesla sold 75% of its bitcoins

Tesla released its financial report for the second quarter of 2022, according to the information contained in it, the company sold 75% of its bitcoins after only one year. It has been bought and sold. The electronic car maker also announced that the sale added $936 million to the company's balance sheet in the second quarter of 2022.

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We should mention that Tesla invested about 1.5 billion dollars in Bitcoin at the beginning of 2021 in the price range of 23-27 thousand dollars. According to CoinDesk, the price of Bitcoin fell below $17,700 in mid-June amid a widespread downturn in cryptocurrency markets. Tesla's Q2 2022 financial report also shows that the company is struggling with inflation, economic turmoil and cryptocurrency winter.

BingMag.com Tesla sold 75% of its bitcoins

This isn't the first time Tesla has sold its bitcoins. The company also sold part of its bitcoins in 2021 at a price of around $101 million. Tesla also announced in its report that the value of its remaining digital assets is $218 million, compared to $1.2 billion in the previous quarter. Elon Musk, the CEO of Tesla, has been a prominent commentator on digital currencies of the company. Tesla sold 75% of its bitcoins, Elon Musk had previously confirmed in an interview with Jack Dorsey that the company and SpaceX do not intend to sell their bitcoin balance. Tesla was banned from Chinese cities for spying

Musk explained about this: The reason we sold some of our bitcoins was because we were not sure when the Covid-19 quarantines in China would be lifted. Finds. Therefore, it was important for us to maximize our liquidity position given the uncertainty of the Covid quarantines in China. The CEO of Tesla, however, went on to say that the company is ready to increase its bitcoin reserves in the future, and the second quarter sales should not be seen as a negative judgment on the company's bitcoins.

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