Changpeng Zhao, CEO of Binance, stated that the sale of Tesla Bitcoins in the second quarter of the year is a drop in the cryptocurrency ocean.
Changpeng Zhao (aka CZ) downplayed Tesla’s bitcoin sales. He claimed that more than 100 billion dollars of bitcoins are traded daily.
Read more: The future and prediction of Bitcoin price in 2022
Selling Tesla Bitcoins
Tesla, the leading maker of electric vehicles, announced yesterday that About $936 million worth of Bitcoin in the second quarter of 2022 has criticized This incident caused a shock in the cryptocurrency community.
The company sold 75% of its crypto holdings. Tesla CEO Elon Musk called crypto a “sideshow” in a conference call. He also claimed that the sale of Tesla’s bitcoins does not indicate the company’s view of this cryptocurrency. Despite his concerns about the climate, the well-known entrepreneur did not rule out Tesla buying cryptocurrency in the future.
Bitcoin quickly fell below $23,000 after the Tesla news. After Tesla made the strange decision to add Bitcoin to its balance sheet in early 2021, it was expected that other major companies like Facebook or Apple would follow suit. With the sale of 75% of Tesla’s assets, it is likely that the case for Bitcoin acceptance by other major companies will be closed.
Some Bitcoin enthusiasts consider the sale of Tesla Bitcoins as positive news. According to these people, the unstable CEO of Tesla no longer has enough power to influence the price of digital currencies.
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Source: u.today