CryptoQueenGuard
Sat Jun 22 2024
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5 answers
1285
What a difference a year makes. After making big plays in Bitcoin in 2021, Tesla jettisoned $936 million worth of the cryptocurrency in the second quarter of 2022, trimming its Bitcoin holdings by 75%, the company said in new investor filings.Why is Tesla backing away from bitcoin?
It's intriguing to see how Tesla's stance on Bitcoin has evolved over the past year. After making significant investments in 2021, the company has now sold off $936 million worth of the cryptocurrency, reducing its holdings by a staggering 75%. Could you elaborate on the reasons behind this dramatic shift? What factors might have influenced Tesla's decision to back away from Bitcoin, especially given its previous bullish stance? What does this mean for the broader cryptocurrency market and Tesla's future investments?
