Tesla Inc. Maintains Bitcoin Holdings in Q4 2023 Quarterly Report
Crypto News – Tesla Inc., the electric vehicle manufacturer spearheaded by Elon Musk, did not engage in any Bitcoin transactions during the fourth quarter of the previous year, as per its most recent quarterly report.
The absence of any mention of Bitcoin in Tesla’s Q4 report indicates that the company held onto its existing stash of 9,720 Bitcoins and did not convert any of it into traditional fiat currency. Typically, such transactions would be disclosed in these reports.
Tesla continues to rank as the third-largest holder of Bitcoin among publicly traded companies, trailing behind MicroStrategy Inc. and Marathon Digital Holdings, according to data sourced from Bitcoin Treasuries.
Tesla’s last Bitcoin sale took place during the second quarter of 2022 when it liquidated $936 million worth of Bitcoin, reducing its Bitcoin holdings by 75%, according to available data.
In the fourth quarter of the preceding year, Tesla reported total revenues of $25.2 billion, marking a 3% year-on-year increase. However, the company’s earnings per share for the fourth quarter came in at 71 cents, falling short of the 74 cents per share forecasted by analysts.
Tesla’s net income for the fourth quarter of the prior year surged to $7.9 billion, a substantial growth compared to the $3.7 billion recorded during the same period in the previous year.
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