In the second quarter of 2022, Tesla sold 75% of its bitcoins
According to a new financial report published on July 20, in the second quarter, electric car manufacturer Tesla sold most of its assets in bitcoins (BTC).
As of the end of the second quarter, we had converted approximately 75% of our bitcoins into fiat currency," Tesla said in its quarterly report. - Exchange operations in the second quarter added $ 936 million to our balance.
According to the report, Tesla's net digital asset holdings have been relatively stable for three consecutive quarters. By the end of March, Tesla's digital assets amounted to $ 1.261 billion. After the liquidation , the company had digital assets worth $ 218 million .
Recall that the electric car manufacturer sold about 10% of BTC in March 2021, receiving a net profit of $ 128 million.
In the spring, CEO Elon Musk explained that the sale, which accounted for 10% of Tesla's assets, was to "prove the liquidity of bitcoin as an alternative to keeping cash on the balance sheet."
https://coin-signal.com/cryptonews/in-the-second-quarter-of-2022-tesla-sold-75-of-its-bitcoins/
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