Elon Musks Tesla Certainly Open To Increasing Its Bitcoin Holdings As DOGE Gains Edge ⋆ ZyCrypto - BitcoinEthereumNews.com
n n टेस्ला बिक चुका है the majority of its bitcoin holdings. The electric car manufacturer founded by Elon Musk now holds only $218 million worth of the benchmark cryptocurrency — down from a whopping $1.2 billion. Teslas BTC Stash Down To $218 Million In an after-market earnings report unveiled Wednesday, Tesla said it had liquidated 75% of its bitcoin holdings in the second quarter, adding $936 million to its balance sheet. Tesla indicated that “bitcoin impairment” had a negative impact on its profitability. The EV giant sold BTC at an average price of approximately $29,000 per coin, dodging a considerable impairment charge by selling earlier in the quarter. As of June 30, the company owned just $218 million in BTC, down from around $1.26 billion in March. The crypto market reacted immediately to the news of Tesla dumping. Musk Open To Future BTC Purchases Elon Musk averred during an earlier earnings call that Tesla had sold “a bunch” of its BTC holdings to increase its cash position, given the uncertainty around Chinas lockdowns. When asked by investors whether bitcoin is something he viewed as a long-term asset, Musk noted that the cryptocurrency was merely a “sideshow to the sideshow” as Teslas main goal is “to accelerate the