Elon Musk's Tesla held onto its Bitcoin in Q4 despite market turbulence

Elon Musk’s Tesla held onto its Bitcoin in Q4 despite market turbulence


Electric vehicle manufacturer Tesla refused to offload any more Bitcoin (BTC) during the latter half of 2022 despite selling off 75% of its holdings in the second quarter.

In its latest Q4 results report on Jan. 25, Tesla’s financials show it neither bought or sold any of its Bitcoin for the second quarter in a row. This was despite hefty market turmoil in November and December on the collapse of FTX. 

The documents show the company holds $184 million in digital assets as of Dec. 31, 2022, down from its $218 million in holdings from the quarter prior due to $34 million of impairment charges as Bitcoin’s price declined between the end of September and December last year.

Trending: Two Republican Senators Prepare To Endorse Trump In 2024 Presidential Race

Bitcoin was around $19,500 on Sep. 30, 2022, before

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Daily Truth Report • DailyTruthReport.com
Thanks for sharing!
Send this to a friend