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Elon Musk Tesla Sells 75% of Bitcoin into $936 Million Cash, Invested $1.5 Billion in 2021
21st July 2022 | Hong Kong
Elon Musk Tesla had sold 75% of its Bitcoin holdings into $936 million of cash at the end of Q2 2022 at its earnings announcement, having invested $1.5 billion in early 2021. Tesla Presentation on Cash: “Quarter-end cash, cash equivalents and short-term marketable securities increased sequentially by $902M to $18.9B in Q2, driven mainly by free cash flow of $621M, partially offset by debt repayments of $402M. As of the end of Q2, we have converted approximately 75% of our Bitcoin purchases into fiat currency. Conversions in Q2 added $936M of cash to our balance sheet.” Tesla revenue grew to $16.9 billion with operating income of $2.5 billion at the end of Q2 2022.
“ Elon Musk Tesla Sells 75% of Bitcoin into $936 Million Cash, Invested $1.5 Billion in 2021 “
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