Did Tesla Also Get Bitten by Bitcoin? Valuation Drops by 570 Billion Won in 3 Months
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[Asia Economy Reporter Changhwan Lee] Foreign media reported on the 4th that the valuation of Bitcoin held by the electric vehicle company Tesla has decreased by $440 million (about 570 billion KRW) in three months.
The value of Tesla's Bitcoin assets was about $1.26 billion three months ago, but as of the 30th of last month, it dropped to around $820 million (1.063 trillion KRW), which is about $440 million less.
Tesla purchased $1.5 billion (1.946 trillion KRW) worth of Bitcoin early last year and made a profit by selling some of it a few months later, but this year, as cryptocurrency prices sharply declined, the valuation also significantly decreased.
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The price of Bitcoin started around $35,000 in January last year, broke the all-time high by surpassing $69,000 in November, but fell again this year, dropping below $20,000 last month.
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