Elon Musk Clarifies His Stance on Bitcoin After Tesla’s U-Turn
Tesla CEO Elon Musk said that his company’s decision to sell most of its Bitcoin holdings shouldn’t be taken as some verdict on the flagship cryptocurrency.
As reported by U.Today, the leading e-car maker sold a whopping $936 million worth of Bitcoin in the second quarter. Musk explained that Tesla had to liquidate its holdings because the company was concerned about its overall liquidity due to shutdowns in China.
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The centibillionaire also said that the company was open to increasing its Bitcoin holdings in the future. The Tesla boss also clarified that the e-car maker hadn’t sold any of its Bitcoin holdings.