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Tesla’s Bitcoin Holdings Remain Unchanged

Tesla’s Bitcoin Holdings Remain Unchanged

Tesla, the electric vehicle manufacturer, announced in its Q1 report that it has maintained its Bitcoin holdings at around 10,725 BTC.

This is equivalent to approximately $310 million.

Although the company’s Q1 earnings report indicated a slight decrease in sales, from $23.39 billion to $23.33 billion, it met earnings per share (EPS) expectations of $0.85.

Despite the sales miss, Tesla shares traded only slightly lower after-hours trading, and investors did not seem concerned.


READ MORE: Bitcoin Slides Below $29,000 as Market Braces for Further Correction


As previously reported, Tesla sold 75% of its Bitcoin holdings in June 2022, receiving $936 million in cash reserves after converting them to fiat.

Tesla invested $1.5 billion in Bitcoin in February 2021, which significantly impacted the cryptocurrency’s price at the time but ultimately proved to be a failed investment.

Elon Musk has been known for his support for the crypto industry and this move in 2021 was very important for the price surge that came after.

Author
Alexander Stefanov - Editor-in-Chief at Coinspress
Alexander Stefanov

Reporter at CoinsPress

Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.

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