Tesla Maintains Bitcoin Holdings — Balance Sheet Shows $184 Million in Digital AssetsElon Musk’s electric car company, Tesla, has maintained its bitcoin holdings. The company’s Q1 balance sheet shows net digital assets of $184 million. According to crypto analytics firm Arkham, Tesla continues to hold onto its 11,509 bitcoins, which have a market value of over $745 million.Tesla Holding Onto Its BitcoinElon Musk’s electric car company, Tesla, has upheld its bitcoin holdings. According to its Q1 balance sheet, disclosed on Monday, Tesla reported that its net digital assets of $184 million remained unchanged since the fourth quarter of 2022. The company previously clarified that its digital assets primarily consist of bitcoin (BTC).
Although Tesla accepts the meme cryptocurrency dogecoin (DOGE) for certain merchandise, the company previously revealed that the quantity of dogecoin it holds is minimal.
Tesla invested $1.5 billion in BTC in Q1 2021 but sold 75% of its holdings in Q2 2022. Musk explained at the time that the company is “certainly open” to increasing its bitcoin holdings in the future, noting that the sale was due to concerns about the company’s overall liquidity, “given Covid shutdowns in China.”
Musk also recently disclosed that another of his companies, Spacex, also holds “a bunch of bitcoin.” Moreover, the billionaire himself owns “a bunch of” dogecoin alongside bitcoin and ether (ETH). Despite holding cryptocurrencies, Musk mentioned that he doesn’t spend a lot of time thinking about crypto. Furthermore, he stated in November of last year that none of his companies will ever create a crypto token.
According to crypto analytics firm Arkham’s onchain analysis, Tesla owns 11,509 BTC across 68 addresses. As of writing, the price of bitcoin stands at $64,735, indicating that Tesla’s bitcoin holdings are presently valued at over $745 million.
Source: https://news.bitcoin.com/tesla-maintains-bitcoin-holdings-balance-sheet-shows-184-million-in-digital-assets/
