Musk Draws Shock and Sympathy on Reddit After Tesla Sold Bitcoins

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The Street

By Luc Olinga What are Elon Musk’s intentions? That’s the question agitating young traders after Tesla sold 75% of its bitcoin. It’s an understatement to say that Tesla’s (TSLA) – Get Tesla Inc. Report July 20 announcement that the company had sold off most of its bitcoin caused a shock in the crypto industry. The Austin manufacturer of premium electric vehicles and its charismatic chief executive, Elon Musk, gave cryptocurrencies, and in particular bitcoin, true credibility on Feb. 1, 2021. That’s when they invested $1.5 billion in the king of digital currencies. How then to interpret the sal…

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