Despite the often volatile nature of cryptocurrency markets, Tesla continues to hold its BTC (Bitcoin) in the third quarter. This revelation came to light on Wednesday when the US-based automotive giant released its earnings report. Tesla’s Bitcoin holdings, valued at $184 million by the end of the third quarter, have remained consistent for five consecutive quarters.
La troisième plus grande quantité de bitcoins détenue par une société publique
In the realm of publicly traded companies, Tesla boasts the third-largest stash of bitcoins, currently estimated at an impressive 9,720 bitcoins (which differs from the company’s assessed value), according to data from bitcointreasury.net. Their impressive inventory is surpassed only by industry heavyweights MicroStrategy and Marathon Digital Holdings. Tesla, led by crypto enthusiast Elon Musk, made headlines in February 2021 when it heavily invested $1.5 billion in bitcoin, amassing around 43,000 BTC.
This bold move was quickly followed by Tesla’s announcement to accept bitcoin as a legitimate form of payment. However, the company’s crypto trajectory took a slight deviation when it sold 4,320 bitcoins in the first quarter of 2021, followed by a liquidation of 75% of its remaining holdings with a significant loss the following year.
From a financial standpoint, Tesla’s Q3 report revealed a net revenue of $1.85 billion, marking a 44% decline compared to the same period last year.