Elon Musk’s Tesla Sell Most Of Its Bitcoin Holdings

Electric car maker Tesla has sold a majority of its stake in bitcoin, company owner Elon Musk has been one of the most high-profile cheerleaders for the cryptocurrency and made waves last year.

When he revealed that Tesla had made a major investment in bitcoin, which spurred demand for the cryptocurrency, the company is now holding back as the value of bitcoin has fallen by more than 50% so far this year.

Our North America business correspondent Samira Hussain said at the company’s Shanghai assembly plant here that the announcement produced better-than-expected results from the US$2.3 billion Tesla.

The Secret 19 in Shanghai comes despite being hit by a lockdown that has affected its production. are in the factory. US The extended shutdown of the U.S. impacted the production capacity of the vehicles as compared to the previous quarter.

Tesla made fewer cars and it made less. It made money on cars due to inflation and greater competition for components going into electric vehicles, and like many companies, Tesla is now grappling with supply chain disruptions.

Tesla’s earnings have always been of great interest to Wall Street, with the electric car maker aiming to increase deliveries by an average of 50 percent in the coming years.

The world’s most valuable car company, but Elon Musk’s $44 billion bid on Twitter means investors are more keen on the company’s financials, the billionaire CEO said to help with Twitter’s acquisition. Took a loan of 12 and a half billion.

Used as collateral his 16 stake in Tesla which he founded and is currently running. What happens in the court case between Mr Musk and Twitter in October could have a significant impact on Tesla.

What Elon Musk has done with regards to bitcoin and twitter look recently, I think it is a black eye for Musk and it is overhanging the stock and after all it is really at a time when they are seeing headwinds. are. China has given zero cove on navigating issues.

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