Why Tesla sold its Bitcoin

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Tesla revealed on its 7/20 earning report that the company sold 75% of its total Bitcoin holdings.
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Sold for good reasons, the fundamentals are still strong🦾

Ethanxshook
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Luckely we all know Yahoo is not really a reliable source, especially not when it comes to Tesla. Tesla made a massive profit despite their lockdown and even without their own Bitcoin.

rowanbroekman
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They know it's not going back up for awhile otherwise they wouldn't have sold!

MikeBorscheid
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If the have 25% of there liquidity in Bitcoin good for them. Bitcoin isn’t going anywhere. Bitcoin will be here after the dust settles and will be the dominant currency in any crypto space. Everyone should be atleast 10% of there portfolio in Bitcoin. Bitcoin has proven itself.

lapiojitarealestateventure
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Its a liquid asset. China shut down there best factory for a month. So they sold and laid people off rapidly. Very smart business. Good leadership. If you pay attention all other businesses are fallowing Tesla's lead.

Bryan-fbdh
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The great reset was going to take it back to zero better to cash out now correct?

eddie_arcadia
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navketan
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Good thing I bought doge coin 🪙, thanks Elon !

beersforyearsTM