Elon Musk’s Tesla sell most of its Bitcoin holdings – BBC News


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The electric car firm Tesla, which made waves last year when it revealed a major investment in Bitcoin, has now sold off most of its holdings of the cryptocurrency.

The company has offloaded 75% of its Bitcoin, which was worth about $2bn (£1.7bn) at the end of 2021.

The value of the cryptocurrency has plunged, falling by more than 50% this year.

Tesla boss Elon Musk has been among the most high profile champions of cryptocurrency, with his pronouncements on social media often driving significant trading activity.

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18 Comments

  1. I see many comments regarding the fact that Elon Musk is not the founder of the company. Maybe it's true, founding and making it grow with vision can be two separate things. Regarding crypto curency, it would be the same as bonds and credit on the credit card, only non conteolled by governments and ESTABLISHED financial powers, which naturally leads to scams such as Luna. As things are now with so many banks in deep corruption, crypto might be a new solution to replace the "trust" part of the banking system. The other problem is anonymity and unaccountability. Crypto will allow criminals to hide their tracks that are often blatantly exposed through money flow.

  2. Remember, all this rich people hang out in the same places and do the same things together. They have the inside info we don't and they manipulate everything to their benefits not ours. Look out for your self people and protect your assets. Because, they won't. Funny how poor people make rich people richer and then ask. How come they makes so much money a year? 🤔🧐

  3. Think about it. I make a crypto coin. I put the first some of money in it. You know, whatever I want. Now, everyone else put money in it after. I let it grow till I want and then pull my money out. All your money is on top of my money. So, I take your money with my money. I made billions and you made nothing. How? 30million persons put one dollar each in it. They have one dollar in it each. I got 30million dollars + my money. Get it? After whatever happens don't matter to me. I made my money. Wam, bam and thank you mam.

  4. His vision and plan is working, if you build it they will come. The industry is following him.

  5. Hay, maybe he knows something we don't know. Only two things we could do. Follow the leaders or follow your intuition. What to do?🤔🧐 I guess I'll sale all my Bitcoin. All two hundred dollars worth of Bitcoin or the two hundred left.😂🤣😂😠😂🤣😂

  6. Despite the dip in crypto, I still thank you for the level-headed financial advice. I started forex and crypto investment with $4,345 and since following you for few weeks now, I’ve gotten $18,539 in my portfolio. Thanks so much Mrs Sonja Verlina

  7. As far as money is concerned I don’t have any excuse to waste my time I was privileged to deal with Maskoffweb and they got me paid

  8. Lol how hilarious of Tesla, Bitcoin is either a long term investment or short term, looks like Musk has short term goals but for the rest of us… there is an opportunity for investing in your future.

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