Tesla’s Bitcoin (BTC) holdings remained steady in the fourth quarter of 2023, as indicated by the latest earnings report unveiled on Wednesday.
The report, devoid of any mention of bitcoin, suggests that the company refrained from buying or selling any of the cryptocurrency in the three months concluding in September. The current value of Tesla’s bitcoin holdings stands at $387 million.
As per data from Bitcoin Treasuries, Tesla possesses more than 9,720 BTC, making it the third-largest public holder of the asset, following software firm MicroStrategy (MSTR) and mining player Marathon (MARA).
Back in February 2021, Tesla, under the leadership of Elon Musk, invested $1.5 billion in bitcoin, amassing approximately 43,000 BTC. Simultaneously, the company announced its acceptance of bitcoin as a form of payment. However, in the same year, Tesla initiated the sale of its bitcoin holdings to bolster its cash reserves amid uncertainties linked to COVID-related lockdowns. By the second quarter of 2022, the company had reported divesting 75% of its bitcoin holdings.
