Tesla sold 10% of its Bitcoin holdings today. According to Tesla CEO, he has done it to prove the cryptocurrency’s liquidity. He believes it as a better alternative to holding cash on the balance sheet.
Elon Musk also added that he has not sold any of his personal Bitcoin.
No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on balance sheet.
— Elon Musk (@elonmusk) April 26, 2021