Elon Musk’s Tesla converted about 75% of his bitcoins into fiat currency, adding $936 million to his balance sheet. Musk explained that the sale was necessary to increase liquidity during the period of anti-covid restrictions in China, and urged not to perceive this. step as a “prayer to bitcoin”.

Tesla sold about 75% of his bitcoins

The world's largest electric car maker, Elon Musk's Tesla, reported better-than-expected quarterly earnings. The company posted adjusted earnings of $2.27 per share in the quarter, versus the Wall Street consensus of $1.81 per share.

At the same time, Tesla cut short a string of record quarterly revenues: Revenue fell from $18.76 billion in the first quarter of 2022 to $16.93 billion in the second quarter of the report.

Tesla has converted about 75% of its bitcoin into fiat currency to increase liquidity, Musk said during a conference call with investors (Reuters data). The businessman urged not to perceive this as a "bitcoin phrase". At the same time, the company did not sell a single Dogecoin.


anastasia mariana

Source: RB

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I am Bret Jackson, a professional journalist and author for Gadget Onus, where I specialize in writing about the gaming industry. With over 6 years of experience in my field, I have built up an extensive portfolio that ranges from reviews to interviews with top figures within the industry. My work has been featured on various news sites, providing readers with insightful analysis regarding the current state of gaming culture.


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