Elon Musk’s Tesla Sold Bitcoin (BTC) in Q1

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.”

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