Elon Musk Explains The Reason For The Bitcoin (BTC) Sale

TechnoPixel — 2 years ago

30 sec reading time

Tesla CEO Elon Musk explained the reasons why the company sold 75% of its Bitcoins.

READING NOW Elon Musk Explains The Reason For The Bitcoin (BTC) Sale

Tesla CEO Elon Musk explained the reasons why the company sold 75% of its Bitcoins.

Elon Musk emphasized the Covid-19 quarantines in China, saying they aim to strengthen their cash positions amid uncertainty.

Underlining that they are open to increasing their Bitcoin assets in the future, Tesla CEO announced that they do not sell any Dogecoin they hold.

After this statement by Elon Musk, the value of Dogecoin increased by 6%.

Tesla announced in its second quarter report that they sold $ 936 million in Bitcoin.

At the time of writing, Bitcoin is trading at $ 23,679 according to CoinMarketCap data.

Tags Bitcoin

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