According to automaker Tesla’s second-quarter report, Tesla sold about 75 percent of its 42,000 bitcoins.
Remember that moment of excitement when Tesla invested $1.5 billion in Bitcoin in January 2021? And at that time Tesla not only contributed to the recognition and search of BTC, but also talked about a long-term investment and saw Bitcoin as a means of payment in the near future. However, things have changed.
Bitcoin’s poor performance since the beginning of the year has caused many investors to reconsider their investments. However, it comes as a surprise that Tesla also decided to sell such a large amount of Bitcoin.
It is unknown if Tesla has any plans to buy Bitcoin again in the future. In particular, the US central bank’s recent increase in key interest rates due to high inflation causes institutions to dispose of their risky assets.