Bitcoin, Ethereum, Altcoins Follow Stocks Down Despite Elon Musk Is Open to Buy BTC Again After Selling 75% of Tesla’s Stash

After spiking above the USD 24,000 level, bitcoin increased its volatility as Tesla said it sold 75% of its BTC holdings, or USD 936m worth of bitcoin, in the second quarter, in an attempt to raise cash.
However, Tesla’s chief Elon Musk stressed that “this should not be taken as some verdict on Bitcoin” as the company sold BTC as they “were uncertain as to when the COVID lockdowns in China would alleviate” and it was important for the company to maximize their cash position….
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