Tesla Sold Its Bitcoin Holding

[Jasmine]

Last year Elon Musk made a headline with his $1.5 billion investment in Bitcoin. Later it was also confirmed that he has invested in Ethereum and Dogecoin as well. When he announced his investment, the value of Bitcoin and a lot of altcoins also rose quickly. For a long time, amidst the bearish run, it was being speculated that Elon Musk sold his bitcoin assets and he regularly denied it. In his march Tweets, he said “I still own and won’t sell my Bitcoin, Ethereum or Doge.”But now it has been confirmed that Tesla sold 75 percent of its bitcoin holding. This is the largest sale of bitcoin in recent months.

Did Tesla profit from Bitcoin sale?

Well, the billionaire seems to have made a loss with his tryst with cryptocurrencies. It is reported that he lost $162 million while selling his Bitcoin. According to reports, at the current price, Tesla still has $218 million worth of Bitcoin. Maybe he will recover the loss if he holds for longer duration.

 

[Sotherefore]

The whole thing is really complicated and I don't just want to say what is not true . If you can check out the time in which the Tesla company accumulated bitcoin , roughly during that time the price of bitcoins was around $32,000.
According to my research concerning that I have come to understand that they did not sold out hundred percent of their crypto asset but they sold out 75% of them and during that time I think the price of bitcoins was around 19,000 dollars , so probably they have made a lot of losses from their crypto investment .

For now I wouldn't want to believe that the Tesla company has completely eliminated cryptocurrency from its arsenal , probably they still have some cryptocurrency left maybe for reasons best known to them..
What I know is that they sold out 75% of their cryptocurrency at a price lower than their buying price.