Tesla has not sold or increased its digital holdings for the fourth consecutive quarter, with the electric carmaker continuing to hold $184 million worth of remaining Bitcoin (BTC).
Q2 2023 income According to data released on July 19, the net value of Bitcoin held by Tesla is 184 million U.S. dollars, and it has remained at this level for the past two quarters.
Tesla hasn’t bought or sold any bitcoins since the second quarter of last year, when Tesla sold more than 30,000 bitcoins, roughly 75 percent of its total holdings, for $936 million.
Tesla first purchased $1.5 billion worth of bitcoin in March 2021, and the company’s CEO Elon Musk promised to accept bitcoin as payment for Tesla vehicles within the next few days.
However, Musk later stopped bitcoin payments for Tesla vehicles, citing environmental concerns caused by bitcoin’s high energy consumption.
Tesla has been beating analysts’ expectations this year, with the company reporting adjusted earnings of $0.91 per share, beating analysts’ expectations. predict $0.09. Revenue also performed better than expected, with Tesla’s revenue of $24.9 billion in the second quarter, beating expectations by 0.81%.
related: Elon Musk launches new AI company to ‘understand the universe’
Although it beat expectations, the market didn’t seem to react much positively.Tesla shares fell 4.19% to $279.07 in after-hours trading data From Google Finance.
Bitcoin is down nearly 5 percent this week and is currently changing hands at $29,914, according to data from Cointelegraph.
Some traders expect bitcoin to revisit around $27,500 in the coming days after failing to hold above the $30,000 resistance level.
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