To everyone’s surprise, Tesla had purchased the equivalent of $1.5 billion in bitcoins in February 2021. Only a few months separated this acquisition from the ATH that the queen of cryptocurrencies experienced in November 2021. Since then, these assets have not no longer left the well-stocked portfolio of the electric car manufacturer. Last July, for fear of locking Chinese borders, he had to part with 75% of his BTC holdings. Right now, Tesla only has $218 million in bitcoins left.
Tesla has yet to sell the rest of its bitcoins
By parting with 10% of its bitcoins in April 2021 and 75% of its balance last July, Tesla now only has $218 million in BTC. Of the 42,902 bitcoins acquired at the start of 2021, only 10,725 coins remain at the time of writing.
Decrypt has therefore revised its ranking of the 10 public companies with the largest bitcoin portfolios. Now Tesla is in 4e position behind MicroStrategy, Galaxy Digital and Voyager Digital. To say that he occupied the 2e spot on this list long before this latest sale.
Yesterday, Tesla released its financial results at 3e quarter of 2022. This document highlights the benefits multiplied by 2 for the American group, or 3.3 billion dollars for the same period.
Also, this financial report indicates that Tesla still holds bitcoins. If in its balance sheet at the end of June, the company claimed to have 222 million dollars, these assets are currently valued at 218 million dollars. The volatility of bitcoin has not helped matters for this company belonging to the “Dogefather”, Elon Musk.
All in all, Tesla hasn’t sold anything since July. Considering the automaker’s performance, $1.05 adjusted earnings per share, or $21.45 billion in revenue, Musk is unlikely to decide another bitcoin sale in the near future. . Unless the takeover of Twitter, after so much controversy and legal battles, causes it other liquidity problems. Furthermore, we will agree to reiterate that HODL is the best strategy in bitcoin trading. Tesla may have figured it out.
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