Elon Musk: Teslas Bitcoin sale is not a judgment about the asset
Elon Musk: Teslas Bitcoin sale is not a judgment about the asset
- Tesla had digital assets worth $ 218 million in his balance sheet on June 30th
- Musk said crypto was "not something that we think about" about "
Tesla sold around 75 % of his bitcoins in the second quarter as part of conversions that added $ 936 million to his balance sheet, reported The company could try to buy more from the asset again.
"We are certainly open to increase our Bitcoin stocks in the future, so this should not be considered a judgment on Bitcoin," said Elon Musk during the telephone conference of the electric car manufacturer on Wednesday. "It is only so that, given the closure of Covid in China, we were concerned about the overall liquidity of the company."
The CEO found that Tesla did not sell any of his Dogecoins.
Although Tesla converted a large part of his Bitcoin stocks for a realized profit in Fiat, according to Chief Financial Officer Zachaorn, reduction expenses for the rest of his stocks led to net costs of $ 106 million
Tesla reports Bitcoin to buy IM February In 2021, when the company found that it would begin to accept the asset as a means of payment. After this announcement, Bitcoin prices rose to around $ 44,000.
Bitcoin was traded at around $ 10,630 on Thursday at 8:15 a.m. In total, Tesla held digital assets worth $ 218 million in his balance sheet as of June 30, compared to $ 1.26 billion at the end of March.
Laura Hoy, a stock analyst at Hargreaves Lansdown, noticed that, although it is unclear how much Tesla lost due to the sale in Krypto, most of the damage was recognized.
"However, the Bitcoin losses indicate an important part of the Tesla investment-his eccentric owner," said Hoy in an explanation.
"While Musk has served the company in an impressive innovation, his personal flair is gradually raising questions of corporate management."
When asked how the Bitcoin company sees in the long term, Musk Krypto called "a secondary location to the secondary location" and noticed: "We are neither here nor in relation to cryptocurrency".
"Cryptocurrency is something that we don't think much about," added Musk. "We think a lot about scaling production and accelerating sustainable energy."
A Tesla spokesman did not immediately answer a request for comment.
. .
The contribution Elon Musk: Tesla’s Bitcoin Sale Not a Verdict on the Asset is not a financial advice.