Elon Musk’s auto company has liquidated 70% of its Bitcoin portfolio to date yet exhibits caution in letting go of the remaining holdings.
Tesla has refused to “hodl” as its early sales of Bitcoin (BTC) have resulted in a missed opportunity of over $300 million in profits.
Tesla’s initial foray into Bitcoin began in February 2021 with a groundbreaking $1.5 billion investment. At the time, BTC’s price was around $36,000.
Since the first reported BTC balance on Feb 08, 202, Tesla’s stock price is down roughly 40% against Bitcoin, specifically:
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