Tesla’s Bitcoin Holdings Remain Unchanged in Q4
The Elon Musk-led company holds over $387 million worth of bitcoin.
Jan 25, 2024 at 6:57 a.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/446GHUPB3FANVHKFEFHQGNTJAI.jpg)
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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.
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Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.