Bitcoin stumbled late on Wednesday after Tesla Inc said it had sold about 75 per cent of its purchases of the virtual token.
Tesla sold $936-million worth of bitcoin in the second quarter, more than a year after it made a $1.5-billion investment during the peak of crypto currency’s massive growth and popularity. On Tesla’s earnings call, Musk said the primary reason the company sold most of its holdings in bitcoin was due to uncertainty about lockdowns due to COVID-19 in China.
Musk added that Tesla did not sell any of its dogecoin, a meme-based cryptocurrency that Musk has previously touted.
Source: Digital Coin News (digitalcoinnews.net)
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