Tesla's investment in Bitcoin

On the other hand, Tesla's initial $1.5 billion investment in Bitcoin in February 2021, when the price of Bitcoin was around $37,000, not only boosted the cryptocurrency's value, but was also a sign of approval from the company. However, Tesla's decision to sell about 10% of its bitcoin in March 2021, at prices above $60,000, seemed premature, as the price of bitcoin rose after that.

In June 2022, as Bitcoin fell below $20,000, Tesla reduced its position and sold a significant portion of its shares. If Tesla had kept its original balance of 43,200 bitcoins, it would have been worth nearly $2 billion by early 2024.

Currently, with 9,720 bitcoins remaining, Tesla's stake is worth approximately $400 million. The car company's next move in the cryptocurrency market is highly anticipated, as it could have a significant impact on Bitcoin's valuation.$BTC #sano016 #bitcion #PYTH #link #ALT