Tesla Holds $218M in BTC on its Balance Sheet
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Tesla has announced in its third-quarter earnings report that it continues to hold BTC. The company has reported it has about $218 million in BTC on its balance sheet.
During July-September, the company’s position in BTC remained unchanged.
Three months ago, Tesla said it had sold 75% of the company’s Bitcoins for about $936 million. The company’s execs explained this move as “the need to increase liquidity during the period of anti-COVID restrictions in China.”
The firms CEO Elon Musk’s rush to get back to the $44 billion Twitter takeover deal has not led to the liquidation of the position in the crypto.
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