Tesla reports Q2 2022 results, revealing that it sold about 75% of its bitcoin holdings in Fiat worth $936 million.
Bitcoin is currently priced at $23,000, while Tesla invested $1.5 billion at around $46,000. That means the company lost about half the price of the coin. Tesla still owns $300 million worth of bitcoin. on the balance sheet
CEO Elon Musk said the company was selling bitcoin to boost liquidity because he wasn’t sure how long China would lock down factories. But I reiterate that I do not sell Dogecoin at all.
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