Tesla’s Bitcoin Portfolio Remains Unchanged at $184M for Third Straight Quarter: Q2 2023 Report

Tesla’s Q2 2023 Update reveals that the American electrical car and cleanable vigor institution refrained from selling immoderate of its bitcoin (BTC) oregon cryptocurrency holdings successful the erstwhile quarter. For the past 3 quarters, Tesla has maintained a integer plus portfolio worthy astir $184 million.

Tesla Holds Steady connected Bitcoin successful Q2 2023, Maintains $184M successful Digital Assets

Following the marketplace adjacent connected Wednesday, July 19, 2023, electrical car shaper Tesla reported its financial results for the 2nd quarter. In this quarter, Tesla manufactured 480,000 vehicles and delivered 466,000. “Q2-2023 was a grounds 4th connected galore levels with our best-ever accumulation and deliveries and gross approaching $25B successful a azygous quarter,” elaborate Tesla’s Q2 2023 update.

Besides a amended 2nd 4th contempt the existent “macroeconomic environment,” Tesla’s Q2 fiscal study indicates that it hasn’t sold immoderate bitcoin. The electrical conveyance company, helmed by Elon Musk, primitively held $1.31 cardinal successful integer currencies successful June 2021. Musk past hinted that the magnitude of bitcoin held was “close” to 42,000. By April 2022, the company’s fiscal connection revealed it had $1.261 cardinal successful integer assets.

By the 2nd 4th of 2022, Tesla had sold 75% of its bitcoin. Musk referenced the Covid-19 lockdowns successful China and the value of maximizing the company’s currency presumption arsenic reasons for the sale. The fiscal results for the 2nd 4th of 2023 reflector those of the 2 preceding quarters. In the 4th fourth of 2022 and the archetypal 4th of 2023, Tesla maintained a equilibrium of $184 million, with nary important gains oregon losses reported.

Most of the “digital assets” mentioned successful the fiscal reports are assumed to beryllium bitcoin, though Tesla besides holds an immaterial magnitude of dogecoin (DOGE). Before Tesla sold 75% of its bitcoin cache, Musk made his bid to get Twitter, the societal media institution helium present controls. Even though Musk sold 75% of Tesla’s bitcoin, the CEO stated that the electrical conveyance institution is “certainly unfastened to expanding our bitcoin holdings successful future.” To date, determination person been nary important increases oregon decreases successful Tesla’s financials related to bitcoin.

What bash you deliberation astir Tesla’s determination to clasp onto its bitcoin assets? Share your thoughts and opinions astir this taxable successful the comments conception below.