Tesla dumped 75% of its bitcoin at one of the worst times

Tesla It was kidnapped in the upper and lower lines in the second quarter, but I miss another missed investor deck.

The company’s digital assets are currently worth $ 1.24 billion.

This increased greatly from $ 722 million a year ago. However, everyone who follows the crypto market knows that the figure represents a lost opportunity of billions of dollars for the earned gains for the electric vehicle manufacturer.

Bitcoin A record is close and increased by 80% last year. Tesla sold 75% of its shares in mid -2012 while trading in some of the current price of the digital currency.

While CEO Elon Musk clearly demonstrates that the future of the electric vehicle company is about Robotaxis and humanoid robots – not about crypto investments – it is clear that it is currently struggling and using cash increase.

Tesla reported a second direct decrease in automatic income in the earnings report late on Wednesday and was below the Wall Street forecasts. The stock fell by 8% on Thursday, and the biggest decrease between Tech’s Megacaps at the moment has dropped approximately 25% for the year.

Robotaxis and Optimus robots are very large and expensive bets for musk in markets with hard competition and constantly changing dynamics. Tesla also acknowledged that the end of President Donald Trump’s tariffs and federal home tax loans could harm the basic business of the company in the next neighborhoods.

Meanwhile, Tesla’s digital assets increase profitability. In the second quarter, the gains from Bitcoin were $ 284 million at a time when total net income was $ 1.17 billion.

The gains could have been much larger.

In the beginning of 2021, Tesla invested $ 1.5 billion in Bitcoin, who made a banking home company. named Add more flexibility to diversify and maximize the “long -term potential” of the digital currency and “further diversification and maximizing returns in our money.

Musk became a Bitcoin’s online defender, and in January of that year, the currency rose at 20% at Tesla CEO’s #bitcoin on his Twitter biography.

By the middle of 2022, the world was in a very different place. The Covid era explosion has gone, its replacement of inflation and increasing interest rates are an equation that removes investors from risky assets.

Tesla said that in the second quarter of that year, Bitcoin Holdings sold three quarters and added cash to the balance sheet at a time when self -esteem and crypto markets dive at the same time. Tesla lost about two -thirds of the market limit in 2022 and Bitcoin fell by 60%.

However, Bitcoin has been recovering sharply since then, and this year received additional support from the efforts of the Trump administration to loosen arrangements and the promise of creating a strategic Bitcoin reserve.

Bitcoin is currently traded over $ 119,000, about six times more than the end of the second quarter of 2022, which is currently in Tesla’s major move.

If Tesla had held all the Bitcoins of Tesla, based on the estimates of Tesla in 2021, this storage would be roughly worth $ 5 billion. Bitcoin of $ 936 million, which the company has converted to cash money, will now be over $ 3.5 billion.

Tesla did not respond to the request for comment.

As for Musk, he did not say much about Bitcoin in his social network in the last three years. In March 2022, shortly before Tesla started leaving Bitcoin, written “I’m still owned by the Crypto currencies, and I’m not going to sell Bitcoin, Ethereum or Dogge FWIW.”

– Lora Kolodny from CNBC contributed to this report.