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Tesla sold bitcoin, and why that’s a good thing
By Side Hustle Rich  •  April 27, 2021
Tesla rocked the cryptocurrency markets when it announced it had bought $1.5B worth of Bitcoin back in February 2021. Today, Tesla rocked the crypto world again, when it announced in its quarterly earnings that it had sold a portion of its Bitcoin holdings, and as a result, reported yet another profitable quarter. But this is not all bad news. In fact, Tesla’s liquidation of their Bitcoin holdings represented only 10% of their stash, and they still hold 90% of their bitcoin. Their experiment in selling the bitcoin was to prove liquidity and that their strategy of holding Bitcoin as a treasury holding alternative to cash was a sound one, and that if they required working capital, it was possible to get cash for it.

No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin

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By Side Hustle Rich
I’m Richard, creator of SideHustleRich. I created this site to journal my experiments, experiences and thoughts on working up multiple streams of income, in an attempt to achieve financial independence. I’m a happily married man and a father to two young boys. I don’t believe in working until i’m 65, maybe enjoy 5 years of retirement before starting to ache all over from basically growing old and tired.
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