Here’s How Much Bitcoin Tesla Now Holds
04/24/2024 13:01
Tesla's Bitcoin holdings remain unchanged for now
Tesla, the leading e-car manufacturer, keeps holding $184 million worth of digital assets on its balance sheet, according to its Q1 earnings results.
Even though the price of Bitcoin is up more than 72% on a year-to-date basis, the value of the company's holdings remains unchanged due to the fact that unrealized gains do not have to be recorded.
Tesla initially acquired a whopping $1.5 billion worth of Bitcoin back in February 2021, pushing the price of the flagship cryptocurrency to new highs. the
In April 2021, Tesla reduced its position by 10% in order to secure $272 million worth of proceeds.
In July, the leading e-car maker sold the vast majority of its Bitcoin holdings.