Thursday, July 21, 2022

https://ift.tt/QHxWq34 cashes out $936 million in Bitcoin, after a year of crypto turbulence

Tesla has pulled back from its $1.5 billion investment in Bitcoin, which it announced in early 2021. Here, a Bitcoin ATM is seen last year inside a New York City store.

Tesla aggressively embraced Bitcoin in 2021, investing $1.5 billion in the currency. But it now says its profitability was affected by "Bitcoin impairment."

(Image credit: Michael M. Santiago/Getty Images)

Tesla cashes out $936 million in Bitcoin, after a year of crypto turbulenceTesla has pulled back from its $1.5 billion investment in Bitcoin, which it announced in early 2021. Here, a Bitcoin ATM is seen last year inside a New York City store.

Tesla aggressively embraced Bitcoin in 2021, investing $1.5 billion in the currency. But it now says its profitability was affected by "Bitcoin impairment."

(Image credit: Michael M. Santiago/Getty Images)



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