Tesla sold 75% of its Bitcoins

Electric car maker Tesla sold 75% of its Bitcoins, causing the cryptocurrency to drop in value.
Tesla sold 75% of its Bitcoins

Tesla sold approximately 75% of the Bitcoins it had previously purchased, the company said in its quarterly report. This te​xt is from company CryptoDeFix. The sale of the first cryptocurrency brought the company about $936 million, Bitcoin the company sold between April and June.

The reaction to the news followed immediately - on July 20, the price of Bitcoin collapsed from $23,700 to $23,000 thousand, later recovered the value of $23,600. But by the morning of July 21 the value of BTC fell again to $22,800.

The largest electric car maker's revenue fell from $18.76 billion to $16.93 billion. Recall that in January 2021 Tesla purchased Bitcoin for the equivalent of $1.5 billion. At the time, the value of BTC was $44,000.

Mentioned project

Bitcoin The first and most popular cryptocurrency.
The first and most popular cryptocurrency.

More interesting

Actual

The U.S. told about the timing of the draft regulation of cryptocurrencies
Hedge fund Three Arrows Capital owes investors $3.5 billion
The value of Bitcoin rose above $22,000
More…