third quarter
HODL! Tesla hangs onto all its remaining $218M in Bitcoin in Q3
Electric vehicle manufacturer Tesla has made no further changes to its remaining stash of Bitcoin (BTC) in the third quarter of 2022, despite nearly a $1 billion sell-off in the previous quarter. The company’s Q3 report released Oct. 19 shows $218 million worth of “digital assets” remains on its balance sheet, with no reported losses in the value of its holdings. Based on current prices, it’s estimated that Tesla still holds around 9,720 BTC. In Q2 earnings report, Tesla said it sold 75% of its Bitcoin during the quarter, adding $936 million in cash to its books and recording a $64 million profit from the sale. Tesla CEO Elon Musk explained at the time that the sell-off was due to liquidity concerns from the COVID-19 lockdowns in China. The sell-off during the quarter took a large chunk of...
