Tesla, led by Elon Musk, has confirmed that it held its Bitcoin (BTC) holdings steady in the fourth quarter of 2023, with no buying or selling activity.<\/p>\n\n\n\n
During Q4 2023, Tesla maintained its position, retaining 9,720 Bitcoin, which are currently valued at $387 million. This marks the sixth consecutive quarter in which Tesla has not conducted any Bitcoin transactions.<\/p>\n\n\n\n
The Q4 report released by Tesla did not mention Bitcoin, indicating that the company maintained its existing BTC holdings. Following the Q4 update, Tesla’s stock experienced a decline in after-hours trading, continuing a trend that began at the start of the new year.<\/p>\n\n\n\n
Throughout January, Tesla’s stock has seen a decrease of nearly 16%, falling below key support levels. Last week, the company’s stock declined by 3%, marking its fifth consecutive weekly decline. Despite the bearish stock market performance and Tesla’s decision to hold its Bitcoin assets, the company reported positive news regarding its vehicle sales.<\/p>\n\n\n\n
On January 2, Tesla announced that it had exceeded Wall Street delivery predictions in the fourth quarter of 2023. The company reported a record-breaking 484,507 vehicle sales during the quarter, contributing to a total of 1.81 million vehicles sold throughout the year, surpassing its initial target of 1.8 million.<\/p>\n\n\n\n
However, Tesla’s Q4 earnings fell short of analyst estimates in terms of both revenue and earnings per share. The company reported adjusted earnings of $0.71 per share, slightly below Wall Street’s expected $0.73 per share. Additionally, Tesla’s revenue of $25.17 billion missed analysts’ expectations of $25.87 billion. Despite these figures, Tesla remains confident in its long-term vision.<\/p>\n\n\n\n
In terms of its holdings of digital assets, which exclusively consist of Bitcoin, Tesla currently holds approximately 9,720 BTC, valued at $387 million. This positions Tesla as the fourth-largest publicly traded entity with a significant Bitcoin portfolio, ranking behind MicroStrategy, Galaxy Digital Holdings, and Marathon Digital Holdings.<\/p>\n\n\n\n
Tesla’s involvement with Bitcoin began in February 2021 when the company made a $1.5 billion investment, acquiring around 43,000 BTC. At the same time, Tesla announced that it would accept Bitcoin as a form of payment. However, subsequent decisions led to a change in this policy, with Tesla reducing its Bitcoin holdings. In early 2021, Tesla sold 4,320 BTC, and later in the year, it divested 75% of its remaining Bitcoin holdings at a loss.<\/p>","protected":false},"excerpt":{"rendered":"
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