Company’s April 19th It held $184 million in digital assets in Q1 2023, similar to Q4 2022, according to the release.
Bitcoin’s price has fluctuated in recent months, but Tesla’s accounting practices suggest that the company’s holdings have neither risen nor fallen in value overall.
Tesla originally bought $1.5 billion in Bitcoin in February 2021, and at one point its holdings were worth $2.5 billion. However, the company sold about three-quarters of that amount in his second quarter of 2022. In the second and third quarters, Tesla held his $218 million bitcoin, but lost some of its value due to volatility and its own sales.
The company’s inconsistent relationship with cryptocurrencies is well known. Tesla temporarily accepted Bitcoin as payment, but abandoned this due to the environmental impact of crypto mining. Tesla now accepts Dogecoin (DOGE) for some products.
Tesla shares (TSLA) were down 2.02% today and 4.06% after hours.
The post Tesla maintained $184 million Bitcoin balance in Q1 2023 first appeared on CryptoSlate.
