How Much Bitcoin is Tesla Currently Holding?

In Tesla's Q4 report, the company maintains a steadfast Bitcoin investment of 9,720 BTC, demonstrating resilience amidst a varied financial performance that yielded a total revenue of $25.2 billion.

How Much Bitcoin Is Tesla Currently Holding?_65d5d0ee04bae.webp

In the latest financial reports, Tesla, the electric vehicle giant, disclosed impressive figures, with a total revenue of $25.2 billion and an operating profit of $2.1 billion. Noteworthy is Tesla’s abstention from both Bitcoin purchases and sales in the quarter under review.

Securing its standing for the sixth consecutive quarter, Tesla currently holds 9,720 BTC in its Bitcoin portfolio. The company’s initial venture into the world of Bitcoin took place in February 2021, spearheaded by CEO Elon Musk, who directed a substantial investment of $1.5 billion, triggering a significant surge in the cryptocurrency’s value.

Building on this bold initiative, Tesla strategically liquidated a portion of its Bitcoin holdings to assess market liquidity, resulting in the remaining holdings being valued at approximately $1.99 billion by year-end. A pivotal decision unfolded in July 2022, as Tesla opted to sell 75% of its Bitcoin holdings, fortifying its cash reserves by an additional $936 million.

How Much Bitcoin is Tesla Currently Holding?

Despite Tesla’s unwavering Bitcoin holdings, its quarterly performance has elicited mixed reactions. The fourth quarter witnessed a modest 1% year-over-year uptick in automotive revenue, yet both earnings per share and total revenue fell slightly short of market expectations, leading to a dip in stock value during after-hours trading.

Delving into Tesla’s balance sheet unveils a comprehensive asset portfolio, encompassing cash, receivables, and solar energy systems, indicative of a diversified strategy extending beyond automotive sales.

Related: Outflow of GBTC Funds Approaching Depletion

The quarter showcased diverse performance across Tesla’s divisions. While automotive revenues experienced marginal growth, the energy generation and storage segment reported an impressive 10% increase in revenue. On a positive note, services and other revenue surged by 27%, underscoring the company’s expanding market reach. However, the overall gross profit witnessed a notable decrease of 23%, and the operating income took a significant 47% dip, reflecting the competitive and challenging economic landscape.

(100 votes)

5.0/5

(100 votes)

Latest

Crypto Market Surpasses $4 Trillion, Overtakes Microsoft Amid Policy Boost

News | Altcoin | Bitcoin | Editor Choice

Crypto Market Surpasses $4 Trillion, Overtakes Microsoft Amid Policy Boost

The cryptocurrency market has surpassed $4 trillion in market capitalization for the first time, overtaking Microsoft, driven by supportive U.S. policies and a surge in investments from both individuals and institutions.

Bitcoin Consolidation Before A Breakout To $135,000

News | Bitcoin | Editor Choice

Bitcoin Consolidation Before a Breakout to $135,000?

Technical charts suggest that Bitcoin (BTC) is entering a consolidation phase and may continue trading sideways for a while before launching a fresh upward move.

Sharplink Gaming Becomes The Largest Holder Of Eth

Bitcoin | Editor Choice

SharpLink Gaming Becomes the Largest Holder of ETH

SharpLink Gaming has officially become the largest holder of ETH, with 280,706 ETH (valued at approximately $858 million at a price of $3,000 per ETH).

Bitcoin Corrects Sharply After New Ath, Is $136,000 Still In Sight

News | Bitcoin | Editor Choice

Bitcoin Corrects Sharply After New ATH, Is $136,000 Still in Sight?

Bitcoin has just reached a new all-time high but quickly faced a sharp correction, raising the question: is this merely a short-term pullback or the start of a deeper downtrend?

Should You Dca Bitcoin At This Time

Bitcoin | Editor Choice

Should You DCA Bitcoin at This Time?

After Bitcoin reached an all-time high of over $120,000, many investors are questioning whether they should dollar-cost average (DCA) at this time.