Tesla reports no change to $184M Bitcoin holdings amidst record $25B revenue
Tesla reported no change to its digital asset holdings in its second quarter 2023 investor report, as seen in its shareholder materials. July 19th.
The documents show that Tesla had $184 million worth of digital assets on June 30, the same amount it had at the end of March 2023 and December 2022. is.
The last major shift in Tesla’s digital asset holdings occurred in the final quarter of 2022, when its holdings fell from $218 million to $184 million. Prior to that, in July 2022, the company announced that it had sold part of its bitcoin for $936 million. The sale amounted to about three-quarters of the bitcoin the company originally purchased in early 2021.
Public interest in Tesla’s cryptocurrency policy remains high despite the company’s stagnant bitcoin holdings.in the company Q&A submission form, multiple investors have asked if Tesla plans to accept bitcoin purchases. This is a payment method that CEO Elon Musk has promised to re-enable once bitcoin mining becomes 50% dependent on renewable energy. It’s unclear if Mr. Musk or other executives answered those questions during the earnings call.
Tesla Posts Record Earnings in Second Quarter
Aside from the company’s bitcoin holdings remaining unchanged, Tesla’s latest report is notable as the company reported record revenue of $25 billion in the second quarter. In the report, the company also highlighted its work on AI, including the Dojo training computer.
Despite these positive developments, Tesla shares fell 0.71% today and 4.90% after hours.report from CNBC Musk and other executives did not disclose future vehicle specifications or dates, suggesting prices have fallen, and said factory upgrades and closures will reduce manufacturing output in the third quarter.
The news comes as Senator Elizabeth Warren urged US regulators to open an investigation into possible conflicts of interest between Tesla and Twitter (the latter was acquired by Musk in October 2022). It was announced shortly after.
An article first appeared on CryptoSlate in which Tesla reported that its $184 million bitcoin holdings remained unchanged amid record $25 billion in revenue.
