Tesla promoting Bitcoin final 12 months turned out to be a $500M mistake

The worth of (BTC) has grown by greater than 50% since Tesla (NASDAQ:) unveiled its roughly $1 billion BTC gross sales in July 2022. In different phrases, the Elon Musk-owned electrical carmaker would have made a further $500 million if it had waited till at this time to promote.

Tesla infamously dumped practically $936 million of its whole Bitcoin holdings in Q2/2022, accounting for 75% of its remaining reserves, to safe a $64 million revenue. On the time, Bitcoin was buying and selling about 70% decrease than its file excessive of $69,000 in November 2021.

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