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Tesla Q4 2022 Financial Report Shows Company Holds Its Bitcoins
Tesla’s Bitcoin holding remained at 9,720 bitcoins throughout Q4, 2022.
Data from Bitcoin Treasuries reveal that Tesla, the leading electric vehicle manufacturing company did not conduct any Bitcoin transactions in the final quarter of 2022. Tesla’s Bitcoin holdings during this period remained at 9,720 bitcoins. The report which contains information from Tesla’s SEC filing reflects inaction from Tesla in terms of Bitcoin transactions.
Tesla was among the top mainstream companies to publicize their investments in Bitcoin at the beginning of 2020. Tesla’s CEO Elon Musk was also vocal about his company’s acquisition at the time.
In July 2022, Musk revealed that the company had sold 75% of its Bitcoin holdings. Although he added that there were existing plans to buy more in the future. The reason Musk gave for the sale was a result of uncertainty over the duration of China’s Covid lockdown protocols. However, his recent activities suggest an overall fading interest in the leading cryptocurrency.
Figures from Bitcoin Treasury show that the average purchase cost of the 9,720 bitcoins held by Tesla is $32,099, while the market price as of the time of the report was $20,109. Bitcoin price has since increased, climbing to $23, 036 as of the time of writing this report.