Tesla dumped 75% of its bitcoin at one of the worst times, losing out on billions

Tesla lost out on billions of dollars by dumping Bitcoin at worst time

Tesla dumped 75% of its Bitcoin holdings at one of the worst possible times – losing out on billions of dollars in gains.

Tesla Sold Its Bitcoin at Pretty Much the Worst Moment Imaginable

Horrible Timing Tesla massively missed the mark in the second quarter of this year, conceding this week that its automotive revenue fell a whopping 16 percent from last year, on top of last quarter's financial woes. As sales continue to plummet worldwide, the Elon Musk-led EV maker could really use a lifeline in the form of billions of cash. But as CNBC reports, its digital asset investments likely won't be the solution. Tesla boasted in its inv…

Tesla dumped 75% of its bitcoin at one of the worst times, losing out on billions

Tesla sold three-quarters of its bitcoin holdings at a time when the crypto market was tanking, meaning the EV maker has largely missed out on the rebound.

Tesla’s Bitcoin Sale: Missed Billions as Crypto Hits $123K

In the annals of corporate cryptocurrency ventures, Tesla Inc.’s foray into Bitcoin stands out as a cautionary tale of timing and market volatility. Back in early 2021, the electric-vehicle giant, led by Elon Musk, invested $1.5 billion in Bitcoin, a move that initially boosted the cryptocurrency’s value and positioned Tesla as a pioneer among traditional companies embracing digital assets. However, by mid-2022, amid a brutal crypto downturn, Te…

Tesla misses out on massive Bitcoin gains after selling at $20K

Tesla's premature Bitcoin sale highlights the risks of market timing and the potential financial impact of strategic asset management decisions. The post Tesla misses out on massive Bitcoin gains after selling at $20K appeared first on Crypto Briefing.