“This should not be taken as some verdict on bitcoin,” Tesla CEO Elon Musk said after the company sold nearly 75 percent of its holdings of the cryptocurrency.
In the cryptocurrency space this past month, Tesla (NASDAQ:TSLA), one of the most prominent companies supporting bitcoin, sold a significant part of its stash of the digital asset.
Also in July, a new research report showed retail buyers are interested in beaten-down cryptocurrency stocks.
Below the Investing News Network (INN) offers a recap of what investors should know about the blockchain business and cryptocurrencies in the month of July.
Tesla sells nearly 75 percent of bitcoin holdings
Electric car manufacturer Tesla has sold nearly 75 percent part of its bitcoin stake.
The move came as a surprise to the market given the role CEO Elon Musk has played in the promotion of bitcoin as a mainstream currency option. The company invested US$1.5 billion in the cryptocurrency last year, although it sold 10 percent of that...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...