Tesla sells 75% of its Bitcoin holdings

Despite Tesla selling 75% of its Bitcoin holdings, the total value of the cryptocurrency market is still above $1 trillion.

The market value of cryptocurrencies is still greater than $1 trillion, despite the fact that electric vehicle (EV) manufacturer Tesla (NASDAQ: TSLA) disclosed that it sold $936 million worth of Bitcoin (BTC), or 75% of its holdings, during the second quarter.

The price of Bitcoin dropped by approximately 2 percent after the earnings report was released, and as of July 21, the leading digital asset is presently trading below $23,000.

Despite this, the market valuation of all cryptocurrencies worldwide is still $1.03 trillion, down 2.52% from the previous day, with the Tesla announcement appearing to have an influence on the market.

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