Tesla made no changes to bitcoin holdings in Q4
In its latest quarterly report, Tesla revealed that it made no changes to its cryptocurrency Bitcoin investments in the fourth quarter of 2022. Despite this, Tesla recorded a $239 million loss from its digital assets.
As of the end of 2022, Tesla still holds 11,509 BTC, which is valued at around $1 billion at the current Bitcoin price of around $89,000. The company purchased these bitcoins in 2021, investing $1.5 billion in cryptocurrency.
Fluctuations in the Bitcoin price in Q4 2022 significantly impacted Tesla's financial results. Despite the fact that the company did not make any transactions with BTC, the change in the value of its cryptocurrency investments led to a loss of $239 million.
Experts note that this situation illustrates the risks that companies face when investing in highly volatile crypto assets. At the same time, Tesla continues to demonstrate confidence in the prospects of Bitcoin, keeping its investments unchanged.