Tesla has sold most of its BTC

April 2022: Tesla argues that BTC has a bright future ahead, most people will soon be paying for electric cars in cryptocurrencies, and Bitcoin it is a much more secure capital investment than, for example, fiat currencies. July 2022: Tesla's balance sheet shows that it exchanged BTC for a total of $ 936 million in the second quarter, liquidating 75% of its digital assets.

The fact that Elon Musk is egocentric, loves to shock and does everything to make it loud around him, has been known for a long time. The problem is that all his moves are watched by millions of people who are able to make investment decisions based on their statements alone.

This was the case, for example, with Dogecoin. All it took was Elon Musk's interest in this cryptocurrency, a few twiits and statements to the media for the meme coin rate to soar by several hundred percent. Only that Elon Musk first said that cryptocurrencies are the future, then that he did not think so at all and joked, and finally no one knew at what point he was serious and cynically joking. The fact is, the price of cryptocurrency rose quickly and then fell just as quickly. It ended up with some investors - of course those who bought on the hill - decided to sue Elon Musk for manipulating the market.

Bitcoin? We believe, but we sell

Until now, the billionaire's private statements - if at all it can be said that such a person can speak privately - have not translated so much into the activities of his companies. Meanwhile, after the publication of Tesla's Q75 report, it turned out that the company had sold XNUMX% of its Bitcoins.

The balance sheet shows that thanks to this the company's cash register was credited with the amount of USD 936 million. However, it is not known when exactly and at what price BTC were sold. And this is extremely important, because the second quarter started with the price of 45 thousand. USD for BTC, and then it dropped even below 20 thousand. USD. Currently, BTC is valued at approx. 23 thousand. USD.

In April, Tesla released a message that Bitcoin on its wallets is a long-term investment that is also a very liquid alternative to cash. A few months later, however, it turned out that the optics changed quickly.

Earlier Tesla bought Bitcoin for $ 1,5 billion in January 2021. And she emphasized all the time that it is a long-term investment. Already in May, it turned out that the company suspended the possibility of paying for cars in BTC - only two months after the start of accepting payments in cryptocurrency. Musk then said he would not sell any Bitcoins, posted diamond-handed memes that are strong and won't sell crypto even with the falling price.

At the same time, Tesla assured itself that it could periodically reduce or increase its involvement in Bitcoin "depending on the needs and assessment of market and environmental conditions."

So it seems that the market conditions have changed so much that the company's authorities decided to make such a decision quite quickly.

"We were concerned about the company's liquidity due to downtime in China" - is translating Elon Musk. - "This should not be taken as a Bitcoin verdict" - he certainly adds, but can he be trusted this time?

Currently, there are still bitcoins worth more than $ 200 million in Tesla's wallet.