.Tesla opting to sell 75% of its bitcoin holdings is unlikely to have a significant impact on whether other firms will be adding crypto to their corporate treasuries.
is unlikely to have a significant impact on whether other firms will be adding crypto to their corporate treasuries.
Tesla was also able to eke out a small profit on its bitcoin sale, despite the sharp decline in bitcoin prices over the last few months. The companyin January 2021 when the cryptocurrency was selling for around $32,000 to $33,000. Tesla later sold about 10% of its holdings in that first quarter for a profit.
And Tesla’s bitcoin sale could be viewed as a completely reasonable tactic for raising cash for corporate purposes. Larsen told CoinDesk he expects more corporations to add bitcoin to their coffers in the future, especially as more regulations are passed by the U.S. Congress.
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