RIYADH: Bitcoin, the leading cryptocurrency internationally, traded lower on Thursday, falling by 1.89 percent to $22,939 as of 11:01 a.m. Riyadh time.
Ether, the second most traded cryptocurrency, was priced at $1,488 down by 2.68 percent, according to data from CoinDesk.
Tesla sold about 75% of its Bitcoin holdings
Electric car company Tesla released its second-quarter earnings report, revealing it has converted nearly 75 percent of its Bitcoin into fiat currency.
The cryptocurrency sales leaves the company with $218 million in digital assets.
“As of the end of Q2, we have converted approximately 75 percent of our bitcoin purchases into fiat currency. Conversions in Q2 added $936M of cash to our balance sheet,” the company said.
“We are certainly open to increasing our Bitcoin holdings in the future,” Tesla CEO Elon Musk said.
Musk added: “We have not sold any of our dogecoin.”
