Tesla holds his remaining Bitcoin until the third quarter after the sale in the second quarter

Tesla holds his remaining Bitcoin until the third quarter after the sale in the second quarter

After the sale of 75 % of his Bitcoin stocks at the beginning of this year, the electric car manufacturer Tesla decided to hold its remaining stocks up to the third quarter, as the SEC documents show.

In July, Tesla announced that it sold 75 % of its bitcoins for $ 936 million in the second quarter. The sale was the first change that Tesla has made on its Bitcoin stocks since the first quarter of 2021 when the company acquired around 43,200 bitcoins for $ 1.5 billion.

"We are certainly open to increase our Bitcoin stocks in the future, so this should not be seen as a judgment about Bitcoin," said CEO Elon Musk during the company's conference call for the second quarter of 2022. "In view of the closure of Covid in China, we were concerned about the overall liquidity of the company."

In his winning report for the third quarter, Tesla did not report any losses in his remaining Bitcoin stocks-the price of the digital wealth value has remained quite unchanged in the past three months.

Musk claims that the company is open to increase its Bitcoin engagement in the future. The CEO also said that Tesla had held his Dogecoin, currently the only cryptocurrency that accepts the electric car company - but only for a limited selection of products, except for vehicles.

"The prices of digital assets have been very volatile in the past and can continue to be very volatile, also due to various risks and uncertainties," says Tesla last quarter report noted. "For example, the spread of such assets is a relatively new trend, and their long -term acceptance by investors, consumers and companies is unpredictable."

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The contribution "Tesla holds its remaining bitcoins up to Q3 after Q2 sale" is not a financial advice.