Tesla has cashed out some of its Bitcoin.
In an investor call today, the electric carmaker reported its Q1 2021 earnings and revealed $272 million in proceeds and a “$101M positive impact” from a net cash outflow of $1.2 billion in crypto.
According to Tesla CEO Elon Musk, the company “sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on balance sheet.”
