Why Did Tesla Sell Some Bitcoin?
Tesla s intention when selling Bitcoin seems to have been a way to test the cryptocurrency s liquidity. Bitcoin passed.
Author:
Apr 28, 2021
Tesla s intention when selling Bitcoin seems to have been a way to test the cryptocurrency s liquidity. Bitcoin passed.
Tesla s earnings call on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?
Tesla s interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.
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