January 26, 2024

Tesla Maintains Steady Bitcoin Holdings Throughout Q4 2023

According to the latest quarterly earnings report released on Wednesday, Tesla, led by Elon Musk, has retained its bitcoin holdings, currently valued at over $387 million.

The most recent earnings report from Tesla, led by Elon Musk, reveals that the tech giant's bitcoin holdings remained consistent throughout the fourth quarter of 2023.

The report, released on Wednesday, did not make any reference to bitcoin, indicating that the company neither purchased nor sold any bitcoin. The valuation of Tesla's bitcoin holdings stands at $387 million based on current market prices.

Top 10 public companies that own bitcoin

Bitcointreasuries.org data indicates that Tesla holds a substantial amount of bitcoin, totaling over 9,720 BTC. This makes Tesla (TSLA) the third-largest public company of bitcoin, trailing behind software firm MicroStrategy (MSTR) and mining player Marathon (MARA).

Notably, Tesla made headlines in February 2021 when it invested $1.5 billion in bitcoin, amassing approximately 43,000 BTC. Concurrently, the company announced its intention to accept bitcoin as a payment method. However, in response to uncertainties surrounding COVID-19 lockdowns, Tesla began selling its bitcoin holdings later in the same year. By Q2 2022, the company had divested 75% of its bitcoin holdings, prioritizing the strengthening of its cash position.

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