Tesla`s Bitcoin Holdings Remained Unchanged In Q4, Earnings Report Suggests

Tesla Inc., the electric vehicle maker led by Elon Musk, did not sell or buy bitcoin during the fourth quarter of last year, according to its latest quarterly report.

Tesla Inc. did not report any activity regarding bitcoin in its fourth-quarter report, suggesting that the company retained its holding of 9,720 bitcoin. The absence of any mention of the largest cryptocurrency by market capitalization implies that Tesla did not engage in converting its bitcoin into fiat currency — a transaction that would typically be included in such reports.

The company remains the third-largest bitcoin holder among publicly traded firms, following MicroStrategy Inc. and Marathon Digital Holdings, according to data from Bitcoin  BTC +0.37% Treasuries.

Tesla last sold bitcoin in the second quarter of 2022, reducing its bitcoin holdings by 75% by offloading $936 million worth of bitcoin at the time, according to the data.

In the fourth quarter of last year, Tesla generated $25.2 billion in total revenues — up 3% year-on-year — its Q4 report showed. The company reported earnings of 71 cents a share in the fourth quarter, coming in lower than the 74 cents a share forecast by analysts.

The company’s net income grew to $7.9 billion in the fourth quarter of last year, compared to $3.7 billion during the same period of the previous year.

Source: theblock.co