Latest News: Elon Musk’s Tesla Sells Most Of Its Bitcoin Holdings

In the last year, the Tesla company was in the trend after it revealed the news of its major investment in Bitcoin. This news burst on social media platforms just after a year when the CEO of Tesla, Elon Musk announced through his social media platform that the Tesla company will not be selling its profit of Bitcoins.

Recently, Tesla has put their statement forward on their social media platforms that because of Bitcoin the company got to see some downfalls in its profits. However, the reports by some sources go against the statement by Tesla. But Tesla has gotten to see its downfall by around 40% this year.

According to the sources, the Tesla company earned a great profit in the months of April, May, and June as there were more sold off cars to complete the challenges while there was still lockdown in China. The Tesla company also said that there was more production of the cars during there was lockdown in China.

The CEO of Tesla stated on his social media platform, that the new factories in the United States of America and Germany increased the output.

Elon Musk: The Promise Breaker

Elon Musk is a man who is known in the entire world for running the biggest business SpaceX, but no matter how he is good at running the different businesses, he is also known as a Promise Breaker, who promises a lot of things through his social media platforms, but sometimes he does not complete some promises that he makes, this fact has come upfront of people after his name started to trend on social media with the tagline of Promise Breaker. However, Elon Musk usually covers the social media trends with the thoughts that he puts on his Twitter account.

Last year, Elon Musk put on his Twitter account that the Tesla company would not sell their Bitcoin, and almost after the gap of one year Elon Musk is now selling the Bitcoins of the Tesla company, and by the time of writing this article, Tesla has sold a lot of its Bitcoin. However, Elon Musk has put his statement after he sold much of the Bitcoin of Tesla, he said in the statement, that he sold Tesla because the company needed some cash, and not Bitcoin because of some personal issues o the company, and there is no other plan than this.