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Tesla dumped 75% of its Bitcoin holdings – TechCrunch

Elon Musk apparently isn’t trying to hodl Tesla’s bitcoin during a crypto winter.
During the company’s Q2 earnings report, the electric car company revealed it has sold 75% of its Bitcoin holdings this quarter.
The company appears to have lost around $150 million on its bet in the cryptocurrency since its 2021 purchase, selling the coins for $963 million.
That announcement sent the crypto markets into a frenzy driving a number of cryptocurrency prices up and cementing Musk as a de facto crypto leader.
The company’s Q2 earnings report, which beat expectations with $2.26 billion in profit, didn’t affect the stock price much at the time of writing in after-hours trading.

Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by TokenAround.

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