Throughout the fourth quarter of 2023, Tesla, under the leadership of Elon #Musk maintained its #Bitcoin holdings without any changes. According to the company's recent earnings report, released on Wednesday, the value of their Bitcoins (BTC) is around 387 million dollars.
The quarterly report indicates that #Tesla did not make any purchases or sales of Bitcoins from July to September, suggesting a stable stance towards this cryptocurrency. Currently, Tesla owns over 9,720 BTC, ranking it third among public holders of Bitcoins, just behind the software company MicroStrategy (MSTR) and the mining company Marathon (MARA).
Tesla first entered the world of cryptocurrencies in February 2021, when it invested 1.5 billion dollars in Bitcoins, amassing about 43,000 BTC. At the same time, the company announced that it would start accepting Bitcoins as payment for its products.
However, over the course of the year, Tesla gradually began selling its Bitcoin shares. This move was motivated by a desire to increase its cash reserve during the uncertainties associated with the COVID-19 pandemic. In the second quarter of 2022, the company announced the sale of 75% of its Bitcoin assets. This decision reflected a strategy to adapt to changing economic and health condition
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