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Tesla lost $23 million due to Bitcoin price slump, still has a $1 billion net profit

Shortpedia

Content Team
Image Credit: shortpedia

Tesla only lost $23 million due to Bitcoin's price dropping below $30,000 in the previous three months. Despite the setback, Elon Musk reported a $1 billion profit. Tesla, according to Musk, has no intention of selling Bitcoin in the near future. This is amid growing worries about Bitcoin's environmental effect. The sole purpose of the sale was to demonstrate that Bitcoin is a viable alternative to cash.