Tesla, after purchasing $1.5 billion worth of Bitcoin in 2021, has sold 75% of it in 2022 and currently holds onto its remaining $184 million Bitcoin stash. In the past two quarters, Tesla’s net value of Bitcoin holdings has remained unchanged at $184 million. The company hasn’t made any new purchases or sales of Bitcoin since Q2 of last year when it sold over 30,000 Bitcoin for $936 million. Tesla initially bought Bitcoin with the intention of accepting it as payment for its vehicles, but later halted this option due to environmental concerns. Despite outperforming analyst expectations in terms of earnings and revenue, Tesla’s stock price dropped 4.19% in after-hours trading. Bitcoin’s price has also seen a decline, with some traders expecting it to revisit a price of around $27,500 in the near future.
Summary:
– Tesla holds onto $184 million worth of Bitcoin after selling 75% of its holdings.
– The company hasn’t made any new purchases or sales of Bitcoin since Q2 of last year.
– Tesla initially planned to accept Bitcoin as payment for its vehicles but later changed course due to environmental concerns.
– Despite beating expectations in terms of earnings and revenue, Tesla’s stock price dropped in after-hours trading.
– Bitcoin’s price has seen a decline, with some traders expecting it to drop further in the coming days.