coinfomania.com
Tesla CEO Elon Musk said last week during a panel at the B-Word conference that his company has not sold any of its Bitcoin holdings. However, given his “not-so-clear” relationship with the Bitcoin community, all eyes were focused on the company’s earnings report slated for release this week.
Tesla published the report today and it did confirm that the company’s Bitcoin position had remained unchanged. The company did not sell or acquire any more Bitcoins during the last quarter. Under accounting for “Cashflow from Investment Activities,” Tesla reported no purchases of digital assets and no proceeds from sales of digital assets.
For the records, it was in the Q1 release that the community learned for the first time that Tesla liquidated a portion of its $1.5 billion Bitcoin holdings. Elon Musk subsequently said the sale was done to test Bitcoin’s liquidity potential and prove to stakeholders that the cryptocurrency could serve as a reserve asset.
More to follow…
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