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. Musk added that Tesla would no longer accept Bitcoin as payment, citing concerns over the environmental impact of Bitcoin mining.
Stats show that the average purchase cost of the 9,720 bitcoins held by Tesla is $32,099, while the BTC current market’s price is around $23,000. This shows that the company is experiencing a loss of approximately 30.8% on its BTC investment.