Tesla Inc TSLA, the electrical automobile big helmed by Elon Musk, maintained its Bitcoin BTC/USD reserves all through the fourth quarter of 2023, as revealed within the firm’s earnings report.
What Occurred: Tesla neither bought nor bought any Bitcoin, reflecting a interval of no exercise of their cryptocurrency funding.
The worth of Tesla’s digital property, which consist solely of Bitcoin, at present sits at $184 million.
With a holding of roughly 9,720 bitcoins, Tesla ranks fourth amongst publicly traded corporations with probably the most vital Bitcoin portfolios, trailing behind Michael Saylor’s MicroStrategy, Galaxy Digital Holdings and Marathon Digital Holdings, as per knowledge from Coingecko.
Tesla’s journey with Bitcoin started with a $1.5 billion funding in February 2021, with the corporate initially amassing roughly 43,000 cash. In the identical month, the corporate introduced it might settle for Bitcoin as fee. Nevertheless, later selections noticed the corporate reverse this coverage and considerably cut back its Bitcoin holdings, promoting 4,320 bitcoins in early 2021 and offloading 75% of its remaining stake at a loss final yr.
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Why It Issues: In different monetary information, Tesla disclosed a fourth-quarter revenue of $25.17 billion, marking a 3% improve yr-over-yr however falling in need of the anticipated $25.62 billion. The automotive income reached $21.56 billion, displaying a 1% development from the earlier yr.
Regardless of the income improve, Tesla’s earnings per share stood at 71 cents, narrowly lacking analyst consensus estimates of 74 cents per share.
Value Motion: At the time of writing, Bitcoin BTC/USD was buying and selling at $40,060 up 0.52% within the final 24 hours, according to Benzinga Pro. Tesla shares are down 3% to $201.95 in after-hours buying and selling Wednesday versus a 52-week buying and selling vary of $138.07 to $299.29. Shares of Tesla are up 44% over the past yr as of Wednesday’s shut.
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Elon Musk-Led Tesla’s Bitcoin Reserves Steady At $184M, Didn’t Buy Or Sell BTC In Q4 – Tesla (NASDAQ:TSLA) www.benzinga.com 2024-01-25 04:49:27
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