TESLA STILL HASN'T SOLD BITCOIN, BTC CORRECTS TO $35,700 AFTER THE PRESSURE FROM THE FED PASSES

According to the newly released 2021 financial report, electric car company Tesla remains committed to investing in Bitcoin (BTC).

 

The value of electric car maker Tesla's Bitcoin investment at the end of the fourth quarter of 2021 remained at $1.26 billion.

 

During this time, Tesla did not buy or sell any BTC, and the value of the investment remained unchanged because the Bitcoin price at the end of Q3 and Q4 was almost the same.

 

$TSLA TESLA did not buy or sell any #BTC

 

Tesla Earnings Report pic.twitter.com/THjG16o5BN

 

— smol D∈SK (@D3SK_) January 26, 2022

 

Previously, in February 2021, Tesla under the direction of CEO Elon Musk announced an investment of 1.5 billion USD in Bitcoin , then also accepted this currency for payment . In April, the company sold off 10% of its investment to prove to shareholders that BTC liquidity is high.

 

However, in May, under the pressure of criticism from the public about the fact that Bitcoin mining consumes fossil energy, contrary to the electric car company's philosophy of pro-renewable energy, Tesla had to announce. stop accepting BTC payments . However, Mr. Musk confirmed that he would not sell Bitcoin, as well as leaving open the possibility of supporting the world's No. 1 cryptocurrency based on some specific conditions.

 

Since then, the world's richest billionaire has turned in favor of Dogecoin (DOGE) , with the latest move accepting DOGE payments for some Tesla souvenirs.

 

At the time of writing, Bitcoin price is correcting strongly to the $35,700 area. The world's largest cryptocurrency in the past 48 hours has had a strong recovery period to a 5-day high at $ 38,900 thanks to the news that the Fed has not temporarily raised interest rates at the moment.

 

However, after the impact of this announcement wears off, it can be seen that Bitcoin is returning to the overall downward trajectory of January 2022, which brought BTC to a half-year low of $32,900 – down more than 50 % from the ATH peak of 69,000 USD in November 2021.