Elon Musk is an icon within crypto.
Or at least, it was.
Conversions in Q2 added $936M of cash to our balance sheet."
“We have not sold any of our dogecoin, we still have our dogecoin,” Musk added.
Tesla’s reserves of bitcoin at one point hit ahigh of $2 billion in value.
Much of that is likely to be Tesla’s remaining bitcoin.
Tesla dumped 75% of its Bitcoin holdings in Q2.
value of remaining digital assets $218mnpic.twitter.com/pDfUsq6Rm1
Crypto prices have since fallen precipitously from their 2021 highs.
Dogecoin is currently sitting at just above 7 cents.
“Bitcoin is almost as bs as fiat money.
The key word is ‘almost,'“he said in February.
“However, when fiat currency has negative real interest, only a fool wouldn’t look elsewhere.”
Tesla didn’t respond to a request for additional comment.
Correction:This story initially misstated the amount of cash Tesla got for its sale of cryptocurrency.
The company gained $936 million in cash through the transaction.
