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Tesla sticks with Bitcoin (BTC)

Tesla (TSLA) did not buy or sell any bitcoins in Q4 2022.

By Luc Vesters
• 1 min read
Tesla sticks with Bitcoin (BTC)

Tesla (TSLA) did not buy or sell any bitcoins in the fourth quarter of 2022. That comes from the quarterly report. At the beginning of the quarter, holdings of digital assets were valued at $218 million, with BTC just under $20,000 on September 30, 2022. At the end of the fourth-quarter accounting period, December 31, 2022, BTC traded at around $16,500. As a result, Tesla's crypto position declined to just $184 million. After the ongoing bull run in recent days, Tesla assets are likely to rise again. Because Bitcoin has now reclaimed the $23,000 level.

In mid-2022, the electric carmaker sold 75 percent of its Bitcoin holdings and sparked a stir in the crypto community. The reason for the sale at the time: to secure liquidity. The COVID lockdown and the accompanying production halt in Shanghai meant sales were lower than expected. In Q4 2022, Tesla posted total revenue of $24.3 billion, well above expectations. 2023 is starting off strong for TSLA shareholders: the stock rose nearly 25 percent in a month.

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