Tesla has dumped 75% of its bitcoin holdings a year after touting 'long-term potential'
Publishing timestamp: 2022-07-20 21:53:49
Summary
Tesla has converted 75% of its Bitcoin purchases into fiat currency, adding $936 million in cash to its balance sheet. CEO Elon Musk stated that the decision was made to maximize cash position due to uncertainty in China. Tesla is open to increasing its crypto holdings in the future, but Musk emphasized that the company's main goal is to accelerate the transition to sustainable energy.
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Tickers: TSLA, BTC.CB=?QSEARCHTERM=BTC,
Keywords: elon musk, enterprise, technology, breaking news: technology, tesla inc, business news, business,