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Tesla's fortunes improved dramatically after Bitcoin broke the $40,000 mark

Tesla's fortunes improved dramatically after Bitcoin broke the $40,000 mark
Back in early 2021, Elon Musk and Tesla bought about $1.5 billion worth of Bitcoins at an average price of $36,000 per Satoshi. After that, Bitcoin began to plummet in value. China imposed a ban on mining and exchanges in the market, and a global panic began to set in.
After Bitcoin's acquisition, the company sold about 10% of Satoshi for a liquidity check totaling about $270 million when Bitcoin was still trading at around $54,000 to $55,000. Now, however, things are looking up for Musk and his giant company. Now that Bitcoin is trading at $40,000, Tesla's assets have finally started to generate income. The total is estimated to be about $1.48 billion.
Tesla's fortunes improved dramatically after Bitcoin broke the $40,000 mark

Tesla's fortunes improved dramatically after Bitcoin broke the $40,000 mark

This came to light after a filing with the SEC for the last quarter. Elon Musk also responded to an investor's tweet regarding the amount of their savings. The krptosociety learned that Tesla's holdings are valued at about $1.48 billion at the moment. Ilon Musk responded, it's a close to that amount.
It has been a real rollercoaster for Tesla, Musk and bitcoin this year. When Tesla sold 10% of its portfolio, many critics began to criticize Musk that he was no hodler, had no diamond hands, and was very quick to change his mind. However, Musk defended his position to the end and said that the move was made to test Bitcoin's liquidity. Tesla was supposed to prove the liquidity of the market and put Bitcoin forward as a full-fledged replacement for fiat in terms of liquidity.
Musk himself has never sold his personal bitcoins. Also, everyone is waiting for an informed decision from Ilon Musk regarding the acceptance of Bitcoin as payment for Tesla. After the B Word conference, Kathy Wood and Jack Dorsey's arguments were more than convincing for TechnoKing.
The conference provided a report from the Bitcoin Mining Council, which showed that the number one global cryptocurrency mining industry has increased its energy consumption by about 56%, making it one of the most sustainable industries. Also, in addition to Tesla, Musk's second company SpaceX also owns bitcoins in its portfolio.

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