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13 May 2021

Elon Musk’s Tesla Sold Bitcoin in Q1, Earnings Report Reveals - Decrypt

Elon Musk’s Tesla Sold Bitcoin in Q1, Earnings Report Reveals - Decrypt


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Elon Musk’s Tesla Sold Bitcoin in Q1, Earnings Report Reveals.

According to Tesla CEO Elon Musk, the company "sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on balance sheet.".

In the call, CFO Zach Kirkhorn indicated the company plans to continue holding Bitcoin in its treasury and said it would stockpile Bitcoin from auto sales, adding, "From corporate treasury perspective, we've been quite pleased with how much liquidity there is in the Bitcoin market.".

Aside from electric vehicles, the company has one objective: to make money for its stockholders, even if that means selling some Bitcoin

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