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Elon Musk’s purchase of Bitcoin made a significant contribution to the 2021 bull season. Now, the latest report has been released. Since the company’s trading activities have a direct impact on the price of Bitcoin, Tesla’s earnings report is closely monitored by investors. Today, the latest quarterly report has finally arrived a few minutes ago.
Did Tesla Sell Bitcoin?
Exactly one year ago, in the July report, we saw that Elon Musk sold 75% of the Bitcoin assets in his company. This was concerning, and many investors said that significant drops could start soon. In the following months, Bitcoin experienced a significant decline. By November, it reached $15,500, which was likely the bottom of the bear market. Musk had made a profitable sale.
However, while the king of cryptocurrencies was melting in price, the mischievous billionaire did not make any purchases. Could the company have been stimulated by the BlackRock move, as seen in the past two earnings reports, to increase its BTC holdings?
The latest quarterly Tesla earnings report, which was released a few minutes ago, answers this question. According to the report, Tesla did not buy or sell Bitcoin, which dashed the hopes of investors. Nevertheless, looking at the bright side, not making any sales at least prevented further decline.
