World famous electric car maker Tesla has sold most of its cryptocurrency holdings.
It is noted that last year Tesla disclosed a large investment in Bitcoin, but has now sold most of its holdings in the cryptocurrency.
According to international media reports, the electric car maker said it has sold about 75 percent of its bitcoin holdings, which were worth $2 billion.
According to media reports, the electric car maker is backing out of its deal as the cryptocurrency has fallen below 50 percent this year.
Read more: Bitcoin tops $22,000 as crypto market hopes shakeout is over
It should be noted that the founder of Tesla is Elon Musk, who recently backed out of the deal with the micro-blogging website Twitter. Elon Musk was sued by Twitter after he announced the cancellation of a $44 billion contract.
A petition filed by micro-blogging website Twitter had appealed to the court to decide the case through a four-day trial in September, but Elon Musk’s legal team opposed Twitter’s position. The hearing was requested to be adjourned until early next year.
