Elon Musk’s Tesla holds its $1.3B bitcoin position in Q2


Jul 20, 2021
Despite its recent concerns about bitcoin’s environmental impact, Tesla hasn’t sold any more bitcoin (BTC, -2%).

Elon Musk’s electric vehicle company reported no new sales or purchases of digital assets, according to its Q2 earnings presentation Monday. The company holds $1.3 billion in bitcoin.

Tesla announced in February it had purchased $1.5 billion worth of bitcoin. Later in Q1, the company trimmed its bitcoin position by 10%, a sale that boosted Q1 earnings by $272 million. Recently, Musk also revealed that one of his privately-owned companies, SpaceX, holds bitcoin.

Do you think that Musk's actions in relation to bitcoin and chia were a special plan to buy more bitcoin?