Tesla Sold 75% Bitcoin Holdings in Q2, Worth $936m

Electric car manufacturer Tesla (TSLA) announced that it sold $936 million worth of its Bitcoins or 75% of its holdings in the second quarter. The company reported the revelation in its earnings report on Wednesday.

“As of the end of Q2, we have converted approximately 75% of our Bitcoin purchases into fiat currency,” Tesla stated in its second-quarter earnings report announced on Wednesday. The firm added the sales worth $936 million in cash to its balance sheet.
Musk commented in the earnings call on Wednesday: “The reason we sold a bunch of our bitcoin holdings was that we were uncertain as to when the …

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