Tesla, the company that makes electric cars, bought a lot of Bitcoin in 2021, worth $1.5 billion.
But in 2022, they sold 75% of it, keeping $184 million worth of Bitcoin. For the past three months, they did not purchase or sell any Bitcoin.
Image by AI
Elon Musk had said they would accept Bitcoin as payment for their cars but latterly altered his mind because of environmental concerns about Bitcoin’s energy use. Tesla made more money than hoped this time, but its stock price dropped after the recent earnings report.
The cost of Bitcoin also went down, and some traders suppose it might go even lower in the future.
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