Tesla Makes No Changes to Its Bitcoin Holdings in Third Quarter

CEO Elon Musk said on the company’s second-quarter earnings call that the sale was made because of “the uncertainty of the COVID lockdowns in China,” but noted that Tesla is open to boosting its bitcoin exposure in the future and that the sale “should not be taken as some verdict on bitcoin.” The price of bitcoin fell about 1.7% on the initial news at the time, but soon regained its losses after Musk’s remarks on the call.