Tesla sells 75% of Bitcoin stake

A €1.5bn investment by the electric car giant, led by Elon Musk, helped legitimise the cryptocurrency - now Tesla's digital assets have shrunk to €214m

Elon Musk, Tesla's CEO, has been a huge influencer in cryptocurrency.

Tesla Inc sold a significant chunk of its stake in Bitcoin, an investment that helped legitimise the world’s largest electronic currency.

“As of the end of Q2, we have converted approximately 75% of our Bitcoin purchases into fiat currency,” Tesla said in a shareholder letter yesterday as part of the company’s earnings report.