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.
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.