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Cryptocurrency News

Bitcoin price dips under $23K after earnings report reveals Tesla sold 75% of its BTC

07/21/2022

Less than a minute

2022.07.21 05:50

Bitcoin price dips under $23K after earnings report reveals Tesla sold 75% of its BTC

“Easy come, easy go” was the story on July 20. The day started on a positive note with Bitcoin (BTC) climbing above $24,300, only to end the official trading day in the red after less than stellar Q2 earning news showed Tesla (NASDAQ:TSLA) sold 75% of its Bitcoin and Minecraft creator Mojang Studios reversed course by deciding to ban NFTs on its platform.

Coin360

A potential source of the afternoon downturn can be traced to Tesla’s Q2 earnings data, which showed that the electric car company sold off 75% of its Bitcoin holdings in order to add $963 million in cash to its balance sheet.

07/21/2022

Less than a minute

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