Tesla converted 75% of bitcoin purchases to fiat currency in Q2 2022

For Tesla, the fair market value of its bitcoin holdings reached $2.48 billion in the first quarter of 2021 and ended the year at about $2 billion.

In the first quarter of 2021, when Tesla went big on bitcoin, the company said the decision was a matter of becoming more flexible, diversifying and picking up returns from its cash holdings.

[Via]