Tesla has been one of the biggest names in the business world for a long time. The company has grown leaps and bounds over the recent years and is currently the leading brand in the world market. A recent move from the company has created ripples across the entire cryptocurrency market. According to the latest developments, the company owned by Elon Musk has disposed of a majority of its shares in Bitcoin. News has confirmed that almost seventy-five percent of the shares have been sold currently.
This has resulted in a huge speculative situation in the market. Most investors are currently tensed about the future possibilities of the crypto market. The crypto market has not been in a good shape over the last couple of months. The market has constantly been experiencing a downward curve. Most of the companies incurred heavy losses. Even big names like Bitcoin and Ethereum had their prices go down by record numbers. Under such a situation, the decision of Tesla to sell off seventy-five percent of its shares came as a shock for all the investors. However, the company stated that the market need not be worried about their decision at all. Let us learn more about the story in detail below.
Tesla Disposes Seventy-Five Percent Of BTC shares
Tesla is on the news once again. Rumors of all sorts are running wild following the company’s decision to sell a large part of its shares in Bitcoin. Most of the investors interpreted this move as a sign that the crypto market is doomed towards failure. They said that the market did not have any future and was heading towards a failure.
However, experts have something else to say about the move. They stated that selling off so many shares only indicated an effort to stimulate the inflow of cash into the company.
