Tesla Sold 75 Percent of Bitcoin Holdings, Adding $936 Million to Balance Sheet

Tesla Sold 75 Percent of Bitcoin Holdings, Adding $936 Million to Balance Sheet
Representation of cryptocurrency Bitcoin is seen in this illustration taken on Nov. 29, 2021. Dado Ruvic/Reuters
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Tesla reported that it sold much of its Bitcoin investment after saying the cryptocurrency was one of a number of factors that impacted operating income in the second quarter of 2022.

The electric car company told shareholders on Wednesday in its Q2 Quarterly Update (pdf) that it converted around 75 percent of its Bitcoin purchases into fiat money, adding $936 million of cash to its balance sheet.
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