Q1 earnings show Tesla sold off $272 million of its BTC purchase

After putting bitcoin on its balance sheet earlier this year, electric vehicle maker Tesla sold off $272 million of its holdings. Its Q1 2021 earnings report shows the sum under "proceeds from sales of digital assets."

Tesla first bought $1.5 billion in BTC in February of this year, according to a disclosure filing with the Securities and Exchange Commission. Crypto exchange Coinbase facilitated the purchase. The $272 million sale would leave at least $1.33 billion in BTC on Tesla's balance sheet according to the price at the Feb. 8 transaction. At this point that figure would be higher given price movements, but filing rules don't allow for Tesla to adjust the figure to the upside.

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