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BREAKING: Tesla has SOLD $963 Million worth of Bitcoin

Updated: Jul 29, 2022

Tesla has SOLD 75% ($963 Million) worth of Bitcoin as revealed in their earnings report. Elon Musk said that they did so in order to maximise cash flow in the company as it was hit hard due to covid and other factors.

Last year, Elon posted on Twitter that Tesla has diamond hands. Meaning that it would not sell off its Bitcoin holdings no matter what! But now we are learning about their recent sell-off. And the percentage is also significant ( 75% )

Along with the US tech sector, crypto has been declining since the beginning of 2022. We recently saw many crypto exchanges filing for chapter 11 bankruptcy.

One thing to note is that Tesla has ALREADY sold their Bitcoin and we don't know if they have plans to buy back later. Bitcoin is still holding above the critical $22,800 resistance level ( Now converted to support )

So perhaps Bitcoin doesn't need Elon to move forward.

Only time will tell.

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