Quote from: NeuroticFish on July 25, 2022, 08:39:58 AM

Quote from: Wilhelm on July 24, 2022, 10:40:53 PM

I heard that it could have to do with ESG regulatory compliance. Aka a transparent risk management framework.
He might have been forced to sell to lower the risk...

This sounds interesting, but I'm certain that another reason was to also have a good looking balance sheet.

Yes, they clearly did it to report positive earnings for their 2nd quarter conference call. According to this article, Tesla sold $936 million and this gave Tesla a quarterly profit of $64 million. If they did not sell their bitcoin, their earnings report would ceratinly be negative.

As per the company's 10-Q filing with the Securities and Exchange Commission (SEC), Tesla sold 75 percent of its bitcoin (BTC) holding for a total of $936 million. In the process, the electric car company made a profit of $64 million in the second quarter of 2022.

Source https://www.cnbctv18.com/cryptocurrency/bitcoin-sale-tesla-nets-64-million-profit-says-filing-with-sec-14257302.htm