- Tesla’s recent financial report shows that they still have 9,720 Bitcoins worth over $389 million and have not sold any of them.
- Tesla has continued to invest in Bitcoin even though the price of Bitcoin keeps changing a lot.
- Since the second quarter of 2022, Tesla has not made any more changes to its investment after selling 75% of its Bitcoin holdings.
Tesla, the top electric car maker, said it still has 9,720 Bitcoin worth over $389 million in its latest financial report. Tesla is still going ahead with its plan to invest in digital money, even though the cryptocurrency market has been changing a lot. This shows that Tesla wants to be careful and steady with its investments in digital money.
Holding onto cryptocurrency despite ups and downs
Tesla’s stance on its Bitcoin holdings is getting attention because of the way the price of Bitcoin has been changing. Bitcoin’s worth has been going up and down a lot. Lately, it has been around $38,000, which is much lower than its highest point of over $48,000 in the middle of January. This ups and downs have been caused by different big economic factors and how the market responds to the chance of a Bitcoin ETF getting approved.
In spite of the current market situation, Tesla has not changed its investment in Bitcoin since the second quarter of 2022. During that time, it sold 75% of its Bitcoin, which was worth about $936 million. This sale happened after Tesla invested $1. 5 billion in early 2021 to buy around 43,000 Bitcoin. Also, Tesla used to for a short time accept Bitcoin as payment for its electric cars, but then they stopped giving this option.
Tesla’s place as a big company.
Tesla currently owns a lot of Bitcoin and is the third biggest holder among public companies, after MicroStrategy and Marathon Digital Holdings. Tesla keeps investing in Bitcoin and it’s an important part of their financial plan. It makes up a big part of their money they have saved.
Tesla’s way of investing in Bitcoin, and MicroStrategy’s similar approach, might make other companies do the same. These companies continue to hold a lot of cryptocurrency, even when the market is unsure. This could make other investors feel more confident. This point of view is important for people who are looking at different ways to invest their money instead of using the usual choices like bonds and cash.
Tesla chose to keep its Bitcoin investment even when the price of Bitcoin goes up and down. This shows that Tesla believes in Bitcoin’s value for a long time. As the big electric car company deals with the changing world of digital assets, what they do is still interesting to investors and experts who study the market. As cryptocurrency gets bigger, people will keep talking and studying how Tesla invests in it.
Warning: This information is not advice about buying or selling stocks.
