Elon Musk’s Tesla Up Over $1 Billion On Bitcoin Investment

Elon Musk’s Tesla is now over $1 billion in the green on its Bitcoin investment as the price nears $58,000 for the first time since early May.

Currently Tesla holds about 43,200 BTC, worth nearly $2.5 billion at the time of writing. The company bought roughly $1.5 billion worth of Bitcoin back in February when it first added Bitcoin to its balance sheet.

In Q2, Tesla sold 10% of its Bitcoin holdings at an average price of around $50,000 per token. CEO Elon Musk later took to Twitter to clarify that Tesla sold 10% of its BTC holdings to prove the asset’s liquidity and viability as an alternative to cash on its balance sheet.

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