Economy

Tesla has sold 75% of its bitcoins

Tesla, the company that makes electric cars from entrepreneur Elon Musk, on Wednesday, announce From the sale of 75 percent of Bitcoin, the cryptocurrency in which I have invested about one and a half billion dollars in the last year alone. Musk stimulated the sale with concerns about the shutdown in China, which would have slowed car production at the plant in Shanghai The accumulation of liquidity became necessary to deal with the economic damage.

However, he believes that his decision is also due to collapse From the value of bitcoin in recent months: From the sale of bitcoins, Tesla earned $ 936 million (about 915 million euros, with which Tesla bought traditional currencies), but BBC Writes Its value at the end of 2021 will be about $2 billion.

This is not the first time that Musk has radically changed his mind about Bitcoin. In March 2021, after a huge investment of $1.5 billion in the purchase of bitcoin, Musk had announce That it would be possible to buy Tesla cars using this currency. After several months I’ve thought about itStimulating the decision with environmental concerns related to the production of bitcoins (which means a significant use of energy). After its announcement, Bitcoin lost 17 percent of its value. Shortly thereafter, Musk also said that Tesla would never sell the bitcoins he had bought, which he did on Wednesday.

– Read also: Explaining Bitcoin well

Thelma Binder

"Explorer. Devoted travel specialist. Web expert. Organizer. Social media geek. Coffee enthusiast. Extreme troublemaker. Food trailblazer. Total bacon buff."

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