Tesla’s Bitcoin Holdings Unchanged at $184 Million in Q1 2023

Tesla’s Bitcoin Holdings in Q1 2023

• Tesla reported that its bitcoin (BTC) holdings remained unchanged during the first quarter of 2023.
• The value of digital assets held on the company’s balance sheet stood at $184 million.
• It is believed that most of the amount is held in BTC, and some dogecoin (DOGE) as well.

Tesla Report

Electric car maker Tesla revealed on Wednesday that its bitcoin (BTC) holdings remained untouched during the first quarter of 2023. According to Tesla’s quarterly earnings report, the value of the “digital assets” held on the company’s balance sheet stood at $184 million, which is the same it was at for the prior quarter. For the quarter, Tesla reported adjusted earnings per share of $0.85, in line with what was expected by most analysts and revenue came in at $23.33 billion, just below analyst expectations.

No Change to BTC Holdings

The first quarter of 2023 marks the third consecutive quarter where Tesla has held on to its digital assets, after it sold off some $936m worth of BTC during the second quarter of 2022 to raise cash amid Covid lockdowns. Tesla has never revealed exactly how many BTC it holds, and instead only reports US dollar value all digital assets combined but it is believed that majority if not everything – is held in form of BTC. Additionally Elon Musk has indicated that company also holds some dogecoin (DOGE).

Estimated Value

According to an estimate by Bitcoin company Coinkite, electric car maker holds some 9,720 BTC on its balance sheet and has never announced a purchase DOGE but it is known that accepts meme coin as payment for merchandise sold online .

stock Market Reactions

Tesla shares opened almost 8% lower on Thursday compared Wednesday close , but recovered some losses early trading Wall Street .