In the second quarter, Tesla sold $936 million worth of bitcoin
According to the company's earnings report for the second quarter, during this period of time, Tesla sold bitcoin for $936 million, as a result of which its crypto asset reserves decreased to $218 million (this amount is noted in the "Proceeds from the sale of digital assets" section)
At the start of 2021, Tesla made a purchase of BTC in the amount of $ 1.5 billion. A little later, she sold $272 million worth of bitcoin, as a result of which the company had crypto assets worth about $ 1.33 billion.
After the initial acquisition of BTC, the company announced the possibility of accepting payments for cars in this cryptocurrency in accordance with current legislation and initially on a limited basis. In March 2021, it brought this to life, but in May it suspended accepting BTC, as its CEO Elon Musk was concerned about the rapid growth in the use of fossil fuels for mining and BTC transactions.
Musk later promised that Tesla has no plans to sell its bitcoin reserves and will add it again as a payment option if miners switch to renewable energy sources. The company has not announced any other sales of its digital assets since the first quarter of 2021.
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