Tesla Holds Steady: No Bitcoin Moves in Q4
Tesla Inc., the prominent electric vehicle manufacturer led by Elon Musk, refrained from engaging in bitcoin transactions during the final quarter of the previous year, as indicated by its latest quarterly disclosure.
The fourth-quarter report from Tesla does not disclose any bitcoin-related activities, suggesting that the company maintained its holding of 9,720 BTC. The omission of any reference to the leading cryptocurrency implies that Tesla did not convert its bitcoin holdings into fiat currency, a customary transaction detail found in such reports.
Tesla secures its position as the third-largest holder of bitcoin among publicly traded companies, trailing behind MicroStrategy Inc. and Marathon Digital Holdings, as per Bitcoin Treasuries data.
It is noteworthy that Tesla’s most recent bitcoin sale occurred in the second quarter of 2022, where the company reduced its bitcoin holdings by 75%, liquidating $936 million worth of bitcoin at that time, as per available data.
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In the fourth quarter of the preceding year, Tesla achieved a total revenue of $25.2 billion, marking a 3% year-on-year increase, as revealed in its Q4 report. The company reported earnings of 71 cents per share during the fourth quarter, slightly below the analysts’ forecast of 74 cents per share.
Tesla’s net income for the fourth quarter of the previous year witnessed significant growth, reaching $7.9 billion, compared to $3.7 billion in the corresponding period of the previous year.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
