Recently, Elon Musk’s Company sold more than 70% of the company’s Bitcoin and raised $936 million.
On July 20, Tesla sent a letter to shareholders about the company’s sale of Bitcoin. Specifically, this company has sold 75% of the Bitcoin that this famous electric car company owns. Based on Tesla’s second-quarter earnings report, the company’s balance sheet recorded an additional $936 million from this Bitcoin transaction.
Tesla sells 75% of the company’s Bitcoin for $936 million (Image: Internet)
In early 2021, Elon Musk’s company also revealed that it invested $1.5 billion in Bitcoin and after 2 months sold 10% of its purchases. After selling 75%, the world’s largest electric car company is left with about 218 million USD worth of Bitcoins. Bitcoin is considered the most valuable and popular currency in the world, but recently the value of this coin has slipped a lot, causing investors, including Tesla, to suffer greatly.
Elon Musk’s company suffers from Q2 profit due to Bitcoin’s slide (Image: Bitcoin.com)
Cryptocurrencies currently attract a lot of attention from investors, and Elon Musk is also among them. He is one of the billionaires who are very interested in cryptocurrencies and even he is the one who has the power to influence the rise and fall of this virtual currency market. The proof is that in September 2021, the CEO of Tesla posted a picture of his pet dog Shiba Inu on Twitter with the caption: “Floki has arrived”, not long after Floki-themed cryptocurrencies had a surge. strong growth in price. Or just with the status line of the characters combining into a rabbit holding a rocket by Elon Musk, a coin with the rabbit symbol, Rabbit Finance, witnessed a strong increase.
Elon Musk is one of the billionaires who are very interested in cryptocurrency (Image:Bitcoin.com)
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