Elon Musk’s Tesla dumps 75% of Bitcoin holdings as profit plunges
The selling of Bitcoin holdings added $936 million to its balance sheet; Bitcoin is trading 2.37% down at $22,903.48
The selling of Bitcoin holdings added $936 million to its balance sheet; Bitcoin is trading 2.37% down at $22,903.48
Bitcoin earlier tanked below $26,000 but later recovered a bit to $27,604.56. The digital currency is still down 11% in 24 hours.
Some stakeholders believe the high tax rate and no loss set off against other income might discourage transactions in cryptocurrencies.
38 of top 50 cryptos trading in the red in 2022; crypto marketcap has corrected 33% from November 10 peak of a little over $3 trillion.
Despite mouth-watering gains, allocation to meme coins should be minimal.