Crypto News

Tesla holds on to Bitcoin despite market volatility

Tesla's Bitcoin investment remains unchanged in Q4

Tesla, the electric vehicle manufacturer, held on to its Bitcoin during Q4 despite market turbulence and sold no more of its holdings.

In its Q4 results report, Tesla’s financials show it neither bought or sold any of its Bitcoin for the second quarter in a row, despite the market volatility in November and December.

The documents show the company holds $184 million in digital assets as of December 31, down from its $218 million in holdings from the quarter prior due to $34 million of impairment charges as Bitcoin’s price declined between the end of September and December last year.

In Q2, Tesla sold 75% of its Bitcoin, adding $936 million in cash to its books and profiting $64 million.

The company’s CEO, Elon Musk, explained at the time the sale was to “prove liquidity of Bitcoin as an alternative to holding cash on a balance sheet.”


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