Tesla sold 75% of his bitcoin: Elon Musk says Dogecoin still belongs to us

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Tesla sold 75 percent of its bitcoin in the second quarter of this year.

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Tesla added $936 million in cash to its balance sheet.

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Because Tesla is facing an economic downturn amidst cryptocurrencies falling like a rock.

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Tesla invested $1.5 billion on bitcoin last year, and said it would accept bitcoin as a form of payment.

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Tesla CEO Elon Musk said one reason could be that we were unsure when the Covid lockdown would ease in China,

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so the company sold a portion of its bitcoin holdings.

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Elon Musk said the company is concerned about overall liquidity for the company in view of the shutdown in China.

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Musk said the company hasn't sold any Dodgecoin yet

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