Tesla Sells 75% Of Its Bitcoin, Cites Chinese COVID Lockdowns – July 21

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$22,585

Bitcoin price has seen a correction from its recent surge, returning to the $22,000s after a brief breach of $24,000 yesterday.

Top-20 altcoins have also taken a hit, as Ethereum tumbles 6%, BNB drops 4% and Shiba Inu is the biggest loser with an 8% fall.

Top Stories for July 21, 2022 🔥

👉 Tesla Sells 75% Of Its Bitcoin, Cites Chinese COVID Lockdowns

Tesla CEO Elon Musk has explained that Tesla sold 75% of its Bitcoin position during the last quarter due to Chinese COVID lockdowns – describing that it was important to maximize cash positioning to weather uncertainty.

Musk went on to say that the action should not be interpreted as “some verdict” on Bitcoin, and that Tesla is open to increasing its crypto holdings in the future. Tesla has also not sold any of its Dogecoin holdings.

👉 Crypto.com Launches Support For Google Pay

Wallet and exchange platform Crypto.com has added support for Google Pay, enabling android users to buy crypto. Users that have linked a bank card to their Google Pay account will now be able to use it as a payment option for purchasing over 250 different assets.

Google Pay has been estimated to have more than 100 million users and has seen increased support in the crypto space – including integrations with exchanges Gemini and Coinbase.

👉 ECB Raises Rates By 50 Basis Points, Exiting Negative Territory

The European Central Bank (ECB) has raised rates by 50 basis points for the first time in over a decade, ending six years at negative interest rates.

The rate hike, which was larger than projected, took the deposit facility rate from -0.5% to 0.0% and seeks to battle inflation risks. The ECB also plans to launch a new bond-purchasing program to combat the risk of fragmentation of the EU.