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For more information: Privacy Statement The company also said CEO Michael Saylor will step down after 30 years heading the business, though he’ll remain as executive chairman. He will also continue to serve on the bitcoin mining council, a global forum of bitcoin miners geared towards promoting the bitcoin network.
Musk Denies Bitcoin ‘Pump And Dump’—And Says Tesla Will Resume Transactions Once This Mining Goal Is Reached
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Microstrategy has been investing heavily in bitcoin since August 2020, and Elon Musk’s Tesla followed in January 2021 when the company purchased $1.5 billion worth. But Tesla sold 75% of its bitcoin in Q2, adding $936 million in cash to its balance sheet. The impairment for Tesla as a result of bitcoin’s recent tumble is unclear. The company still owns $218 million worth of digital assets. Latest Rumours have it that Elon Musk or Tesla might have or is going to acquire a stake in this newly listed NASDAQ.