Tesla, owned by Elon Musk, held onto Bitcoin (BTC) holdings in the last quarter of 2022, despite crypto difficulties in November and December, following the FTX bankruptcy.
Specifically, according to the report published on Jan. 25, Tesla did not sell its BTC during Q4 2022. Therefore, it still holds its 9,720 BTC.
By the way, after the publication of the Tesla report, the Bitcoin price started to rise, reaching a high of $23,815 in a few minutes. Currently, it is trading above $23,000, as recorded by our internal Crypto Online tool.
To remember, Tesla bought 43,200 BTC during the first quarter of 2021, through an investment of $1,500 million.
Subsequently, in July 2022, Elon Musk, CEO of Tesla, indicated that they were forced to sell 75% of their Bitcoins for an approximate amount of $936 million. Due to company liquidity concerns caused by COVID-19.
«It’s just that we are concerned about the overall liquidity of the company, given the COVID shutdowns in China.».
However, Elon Musk had already left the doors open for the purchase of more BTC in the future. Holding that: «We are certainly open to increasing our Bitcoin holdings in the future, so this should not be taken as a verdict.».
Tesla Q4 Report
Now, Tesla continues to hold the same position in Bitcoin (BTC) compared to its Q3 2022 report. The company has not sold or bought any BTC.
However, the value of the cryptocurrency has fallen in both quarters. According to the report, Tesla’s digital assets were worth $184 million as of December 31, 2022. This shows a decrease of $34 million from its third-quarter report, which was valued at $218 million.
For his part, regarding the acquisition of Twitter, Elon Musk emphasized: «Twitter is actually an incredibly powerful tool for driving demand for Tesla. And I really encourage businesses of all kinds to make more use of Twitter. Which will help drive sales, just as it has with Tesla».
Finally, the company maintained that it is its best fourth quarter in its history, since the October-December period delivered 405,278 electric cars and produced 439,701 vehicles, which averages 1.31 million cars in all of 2022.
I close with this phrase from Max Keizer: «Bitcoin is the currency of resistance».
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