By the end of the second quarter of 2022, electric car maker Tesla had converted about 75% of its own bitcoins into cash, bringing it $936 million.
Tesla CEO Elon Musk said in a conference call that the sale of the cryptocurrency was driven by the need for more liquidity during the period of anti-Code restrictions in China,
while the company did not sell “a single” Dogecoin, the businessman said. Earlier, he said that he would continue to support Dogecoin despite the market correction.
Musk also stressed that Tesla is open to future investments in bitcoin. The company’s total quarterly profit was $16.93 billion.