Tesla dumped 75% of its Bitcoin holdings

techcrunch.com

17 pointsrbanffy4 comments

In their investor's report, they explain the decision: They were strapped for cash.

Not so much strapped for cash but they wanted to have a larger cash position due to the uncertainty of production at their China facility. It was shut down for weeks due to China's zero COVID policy.

It was the difference between negative and positive cash flow. They sold just for perception reasons.

> They sold just for perception reasons.

Based on the charts, as best I can tell those bitcoins were probably bought and sold at approximately the same price range. This assumes the buying prices in February 2021, and selling Q1 2022. One might speculate Tesla set-up an automatic stop-loss trade.

I dunno, during economic recessions it's generally wise financial advice to park cash on the sidelines, liquidate fluid assets, etc..

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