Tesla's Bitcoin Holding At The End Of The Fourth Quarter Did Not Change
According to the electric car maker's fourth-quarter earnings report, Tesla's bitcoin holding was $1.26 bln at the end of December. Elon Musk's company did not sell or buy bitcoin in the previous quarter.
Tesla announced that it bought $1.5 bln worth of bitcoin last February. The most popular cryptocurrency soared about 50% within two weeks of the announcement to hit $58,300. In its first-quarter earnings, Tesla said it sold 10% of its bitcoin position to test the liquidity of the cryptocurrency.
Tesla reported $51 mln and $23 mln in bitcoin-related losses in the second and third quarters, respectively, due to falling prices. The cryptocurrency market experienced a big correction after Tesla suspended payments in bitcoin due to the negative impact of cryptocurrencies on the environment.
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