Tesla Inc’s (NASDAQ: TSLA) recent Bitcoin (CRYPTO: BTC) sale was made at a small loss, a new report from Arcane Research finds.
What Happened: Arcane’s analysts estimated that Tesla sold 75% of its BTC stack, or 29,060 BTC, at an average price of $32,209 per Bitcoin.
“This estimation is based on previous VWAP estimates from their initial BTC purchase (average price of $34,841) and the sale of 10% of their BTC to “test liquidity” in Q1, 2021,” stated the analysts.
Tesla’s first $1.5 billion Bitcoin purchase was done at an average price of $34,841 per coin. The company then went on to sell a small portion of its holdings in the …
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