.Tesla's shedding of $936M in BTC may have been due to liquidity concerns but also suggests that the company isn't as committed to the digital asset as some people believed; ether rises in Thursday trading. TheSamReynolds and JPRubin23 report
Bitcoin fell slightly in Thursday trading as investors continued to absorb the aftershocks of Tesla's decision to shed $936 million in bitcoin from its balance sheet during its second quarter.
"Bitcoin was showing signs of a potentially meaningful breakout, but that quickly came to an end after Tesla reported earnings," Oanda Americas Senior Analyst Edward Moya wrote in an email. Investors have also been encouraged by reports that the U.S. central bank's Federal Open Market Committee would raise the interest rate 75 basis points instead of opting for a more robust 100-point hike. The mildly, less hawkish turn has suggested to some observers that inflation may soon stall without the economy plunging into recession. A Thursday report showing jobless claims in the U.S.
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