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sold 75% of its Bitcoin in the second and fourth quarters of this year

Bytomasian

Oct 20, 2022

Tesla did not make any bitcoin transactions for three months from July to September this year. After selling 75% of Bitcoin held in the second quarter of this year, they did not make any bitcoin transactions in the third quarter. Tesla announced that it disposed of 75% of its Bitcoin in the second quarter, lowering the Bitcoin price at the time. Tesla purchased $1.5 billion worth of Bitcoin in February last year, and Tesla CEO Elon Musk said at the time that Tesla would not sell the bitcoin it owns.

Tesla, which sold 75% of its Bitcoin holdings in the second and fourth quarters of this year, traded “0” in the third quarter


According to Tesla on the 19th (local time), Tesla announced that there were no bitcoin transactions in the third and fourth quarters after selling $936 million worth of Bitcoin in the second and fourth quarters of this year. As of the end of the third quarter of this year, Tesla’s holdings of virtual assets such as Bitcoin were estimated to be $218 million. Tesla said there was no loss from holding Bitcoin because it remained almost the same at the end of the second quarter and the end of the third quarter of this year, with bitcoin prices below $20,000.

Tesla sold a large number of Bitcoin in the second quarter of this year, shocking the Bitcoin market. Bitcoin prices temporarily fell 1.7 percent after Tesla sold Bitcoin.

Tesla CEO Elon Musk said in his second-quarter earnings announcement that Tesla sold 75% of Bitcoin in the second quarter of this year, not the expected decline in Bitcoin, but the blockade of COVID-19 in China and the resulting uncertainty.

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