Elon Musk's company, Tesla, managed to arouse a great public reaction when it announced that it sold 75% of its Bitcoins in its second quarter report announced yesterday. So why did Tesla sell his Bitcoins? The answer to this curious question from the Tesla CEO was not delayed.
In a statement today, Elon Musk explained why the company sold its Bitcoins with the following statements:
“We sold some of our Bitcoins due to the uncertainty created by the quarantines in China. Because we did not know when the COVID in China would ease. In this case, it was very important for us to increase our cash position.
We will definitely be open to the idea of increasing our Bitcoins in the future. This situation should not be considered as our final decision regarding Bitcoin. This sale is related to our liquidity concerns in companies in China, along with the closures in China."
Tesla CEO Elon Musk added that the company does not sell any of the Dogecoins it holds, adding, "We are neither here nor there on cryptocurrencies." He said, and underlined that Tesla's main goal is to "accelerate the arrival of sustainable energy".
New version of Dogecoin Core software...
A new version of the Dogecoin Core software has been released. Developer Patrick Lodder announced that version 1.14.6 brings important security updates while improving the efficiency of the network. Therefore, all Dogecoin users are strongly advised to upgrade.
According to the upgrade, the recommended dust cap has been reduced from 1 DOGE to 0.01 DOGE. Dogecoin Core 1.14.5, the new minor version of DOGE, went live in late 2021 and has significantly reduced transaction fees. Elon Musk, one of the most well-known supporters of Dogecoin, drew attention to the latest updates on Twitter. The entrepreneur has previously supported the scaling of Dogecoin by significantly increasing the block size and reducing transaction fees. This was necessary to make Dogecoin a viable option for everyday purchases.