Tesla’s Bitcoin Holdings Remain Unchanged in Q4

Markets

Bitcoin [BTC] holdings of electric car manufacturer Tesla (TSLA) remained unchanged in Q4 2023, according to the latest earnings report released on Wednesday.

The quarterly report did not mention bitcoin, implying that the firm did not buy or sell any bitcoin in the three months ended September. The holdings are valued at $387 million at current prices.

Tesla holds over 9,720 BTC, according to data tracked by Bitcoin Treasuries, and is the third-largest public holder of the asset behind software firm MicroStrategy (MSTR) and mining player Marathon (MARA).

The Elon Musk-led company invested $1.5 billion in bitcoin in February 2021, accumulating some 43,000 BTC. In the same month, Tesla said it would begin accepting bitcoin as a form of payment.

However, it started to sell its holdings later that year to maximize its cash position amid uncertainties related to COVID lockdowns. In Q2 2022, it reported selling 75% of its bitcoin holdings.

Related news

Markets
Apr. 26, 2024

ARK Sells Last of Its ProShares Bitcoin Futures ETF Shares

ARK bought over 4 million BITO shares late last year as a short-term play in anticipation of the approval of spot bitcoin ETFs in the U.S., with plans to swap them once the approval came. Following consistent sales in January, ARK has sold the ...
Markets
Apr. 26, 2024

Bitcoin Stable Above $64K While ETF Outflows Hit $200M

BTC is trading above $64K even as outflows accelerate. The correlation between ETF outflows and BTC’s price is weakening. Bitcoin {{BTC}} is trading above $64K in the early afternoon of East Asia’s trading day, even as outflows from bitcoin e...