Musk admitted to dumping some $936 million of Bitcoin to raise cash out of concern of an economic pullback due to pandemic lockdowns in China.Bitcoin miners are the buyers of last resort when it comes to sustainable energy.Shanghai lockdowns were a challenge for Tesla in Q2.Global Bitcoin adoption is expected to hit "parabolic phase" in 2030."Lettuce hands" is an expression some people use to describe an investor who sells their Bitcoin (BTC-USD) at the first sign of trouble, often at a loss. An example of its use in a sentence might be: "Elon Musk has lettuce hands because he sold 75% of Tesla's (TSLA) Bitcoin holdings in the second quarter."The above sentence is more than an example; it happens to be the truth. During Tesla's quarterly results webcast last week, Musk admitted to dumping some $936 million of Bitcoin to raise cash out of concern of an economic pullback due to pandemic lockdowns in China. The chief executive said he sold for a "realized gain," but some people online have some serious doubts.To be fair, Musk added that he was open to buying more in the future. But to many Bitcoin fans and advocates, his decision to sell feels like a betrayal-especially since he continues to hold the meme coin Dogecoin (DOGE-USD), created in 2013 as a joke.When Tesla initially announced in February 2021 that it had bought $1.5 billion in Bitcoin, the crypto community saw this as signaling the start of a trend of big companies and...
