Tesla lost several billion dollars by selling 75% of its holdings in 2022, amounting to $BTC , when the price of the most popular cryptocurrency was significantly lower than it is now.
In 2021, the American company Tesla invested 1.5 billion dollars in $BTC , becoming one of the largest corporations to support cryptocurrency. However, in 2022, amid the decline of the crypto market, the company sold 75% of its bitcoin assets. The sale occurred at significantly lower prices than at the time of purchase, resulting in losses of several billion dollars. Tesla's management explained the decision was necessary to increase liquidity amid an unstable economic situation. Despite the losses, bitcoin has since risen significantly in price. Analysts believe that if Tesla had held onto its assets, the company could have made significant profits.
Are you investing in bitcoin?
