Tesla sold 75% of bitcoin holdings in second quarter, as crypto prices crashed

Tesla TSLA, +0.80% disposed of 75% of its bitcoin BTCUSD, -1.20% holdings in the second quarter, as the crypto traded 65% lower from its record high in November. The company sold the coins for $936 million, according to the electric car marker's earnings report released Wednesday. Tesla said it invested $1.5 billion in bitcoin early 2021, when the crypto was trading above $30,000. The largest crypto is now trading at around $23,118, down 1% over the past 24 hours, according to CoinDesk data.