$TSLA: Musk Sold 75% of BTC.X Stake

Forbes headline: Elon Musk swore in March not to sell any Bitcoin, but Tesla cashed out 75% of its Bitcoin holdings amid the crypto winter just months later

BY MARCO QUIROZ-GUTIERREZ
July 20, 2022 5:47 PM EDT

https://fortune.com/2022/07/20/tesla-sells-75-percent-bitcoi…

Electric vehicle maker Tesla sold $936 million worth of Bitcoin, 75% of its holdings, in the second quarter, according to a shareholder deck released in anticipation of its earnings call on Wednesday.

The company, led by the world’s richest man, Elon Musk, had just $218 million in Bitcoin remaining on its balance sheet, compared to $1.26 billion in the first quarter.

Tesla’s first investment in Bitcoin was in the amount of $1.5 billion last February, and the current disclosure represents its largest Bitcoin sale.