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Tesla, the electric car company led by Elon Musk, did not sell the remaining of its Bitcoin stash, as it was supposed to do during the 4th quarter of 2022, according to a filing published by the Securities and Exchange Commission (SEC).
Tesla btc holds is expected to be at a price of approximately $245 million, which would be the last 25% of all bitcoin bought by the company during the crypto bubble of 2021.
Despite the crypto market crash of the following year and the negative news that darkened the crypto ecosystem, such as the bankruptcy of major firms in the industry, Tesla kept “hodling” part of its crypto fortune, according to its Q4 and FY 2022 Update.
Despite next year's crypto market crash and negative news clouding the crypto ecosystem, for example, the failure of large industrial companies, Tesla has retained "hodling" part of his crypto fortune, Updated to Q4 & FY 22
Musk is putting money into opportunities. The company has maintained its Bitcoin for over a year despite the onset of the COVID-19 pandemic, which has resulted in mass layoffs and the closure of several Canadian businesses.
The company has maintained its Bitcoin for over a year despite the onset of the COVID-19 pandemic, which has resulted in mass layoffs and the closure of several U.S. businesses. Elon Musk announced that the company had to sell 75% of its Bitcoin for $936 million due to the rise in the company’s production costs in China, which had soared to unprecedented levels in the wake of the coronavirus.
However, musk said the company was "open to an increase in bitcoin holdings in the future" and they had nothing against BTC. He said the sale was due to uncertainty around COVID-19 lockdown measures in China and the need to maximize the company's liquidity.
Musk also reported in March 2022 that he still had his personal Bitcoin and was not going to sell it.
In most cases, for those seeking guidance from that yarn, It is usually best to own physical things such as a home or stocks in businesses that you think are making good products, when inflation is high, compared to dollars.
I still own & won’t sell my Bitcoin, Ethereum or Doge fwiw.
— Mr. Tweet (@elonmusk) March 14, 2022
Mr. Twitter (@elonmusk) March 14, 2022.
Tesla and her questions of confidence Bitcoin. However, it started to lose confidence in its investment due to Bitcoin’s energy consumption, causing Tesla to stop accepting Bitcoin payments for the purchase of its cars in May 2021. Bitcoin crashed shortly thereafter, ranging from $55k to $52k over the hours.
Bitcoin crashed shortly thereafter, ranging between $55K and $52K in hours. He said that “99.92% of the world’s carbon emissions are due to industrial energy uses other than bitcoin mining.”
He said that "99.92% of the world's carbon emissions are due to non-bitcoin industrial energy uses." It is not clear whether the company plans to re-adopt Bitcoin in the future. However, Tesla's retention of 25% of its bitcoin supply, despite the market crash and negative news in the crypto ecosystem, may signal renewed interest in digital currency.
Moreover, Musk has always been vocal about his support for Bitcoin and other cryptocurrencies —especially Dogecoin. The company may wait for the right time to make a move.
