Tesla, the electric car giant, released its quarterly earnings report and confirmed that the amount of Bitcoin it holds has not changed. The company currently owns 9,720 BTC, valued at approximately $647 million. Despite having invested $1.5 billion in Bitcoin in early 2021 and owning around 43,000 BTC at one time, Tesla sold 75% of its Bitcoin holdings in Q2 2022 to maximize its cash position during uncertainties caused by COVID quarantines. Tesla now ranks as the third-largest public holder of Bitcoin, behind MicroStrategy and Marathon.
