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Tesla Sold 75% of its Bitcoin Worth $936 Million

Published 07/20/2022, 05:02 PM
Updated 07/20/2022, 05:07 PM
© Reuters. Tesla (TSLA) Sold 75% of its Bitcoin Worth $936 Million

By Davit Kirakosyan

According to the Q2 quarterly update, Tesla (NASDAQ:TSLA) has converted approximately 75% of its Bitcoin purchases into fiat currency during the quarter, which added $936 million of cash to its balance sheet.

In early 2021, Tesla started to invest in Bitcoin after updating its investment policy to give the company more flexibility to further diversify and maximize returns on its cash that is not required to maintain adequate operating liquidity. The company invested a total of $1.50 billion in bitcoin under this policy.

The company’s balance sheet shows $218 million in digital assets as of the end of Q2, compared to $1.261 billion in digital assets as of the end of Q1.

Latest comments

hi
investing.com needs to do something about these spam bots. it's getting just as bad as twitter here .
The passivity of Investing.com is puzzling.
I hear both of you, we need to work on it. I don't have anything imminent to share but it's a problem and we're aware of it.
This is where lack of crypto regulation gets people hurt. Had this been a stock dump, Musk would have had to disclose it in a filing in advance. Instead, after hyping up bitcoin, he secretly unloads it with nobody the wise until a after the fact.
 I'm not sure I understand your comment. If you are trying to suggest that there should be additional regulation of stock trading by congressional representatives, I agree.That is why I support bills like those of Senator Elizabeth Warren (D-MA) or Senator John Ossoff (D-GA) that would prohibit congressional representatives from trading stocks. Either of these would put an end to shenanigans like those reported yesterday by Business Insider of 66 members of congress of both parties violating insider trading rules. How about you, are you for solving problems?
So Tesla sold 75% BTC holding for ~$195M loss!
would you have a link to validate good information
Who cares!
From $1.50 billion down to only $218 million after converted 75% of Tesla bitcoin position to just $936 million... seems like a loss in Tesla bitcoin trading/holding...
yes, and helped put selling pressure on crypto in general.
Cannot argue with math.
Do We see that loss from balance sheet?
From $1.50 billion down to only $218 million after converted 75% of Tesla bitcoin position to just $936 million... seems like a loss in Tesla bitcoin trading/holding...
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