How Much Bitcoin (BTC) Does Tesla Own?
Bitcoin (BTC) is in the portfolio of several prominent firms. The Elon Musk-led company Tesla has been smitten by the Bitcoin bug for quite a while now. The king coin is currently trading at $63,711.26, following a slight dip over the past 24 hours. Also Read: Ripple Earns Financial License in Dubai: Will XRP See a Rally? Tesla’s Bitcoin Investment Journey Source Initial Investment and Profit Tesla’s interest in Bitcoin has fluctuated despite the excitement surrounding its initial investment. By April 2021, Tesla had made a $272 million profit from selling around 10% of its BTC holdings. Musk went on to clarify that this was a test of BTC’s liquidity rather than a major action that would have affected its price. Market Reactions and Long-Term Goals The market received conflicting signals from Tesla’s selling of part of its BTC. This further led many to question the firm’s long-term goals in the cryptocurrency arena. Subsequent Sales and Holdings Tesla revealed in...