<p>Tesla maintains its digital asset holdings at $184 million worth of <a href="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> for the fourth consecutive quarter, with no sales or additions reported.</p>
<p>According to the<a href="https://digitalassets.tesla.com/tesla-contents/image/upload/TSLA-Q2-2023-Update.pdf" target="_blank" rel="noopener noreferrer nofollow"> shareholder deck</a> presented on July 19, Tesla’s digital asset holdings remained at $184 million on June 30. The firm held the same amount between March 2023 and December 2022.</p>
<p>The company’s last significant change in digital asset holdings occurred in the final quarter of 2022. Back then, it decreased from $218 million to $184 million. In July 2022, Tesla sold a significant portion of its Bitcoin for $936 million, representing about 75% of its <a href="https://crypto.news/tesla-1-5b-bitcoin-accept-btc-ev/" rel="noopener noreferrer nofollow">purchase</a> in February 2021.</p>
<p>Although Tesla’s Bitcoin holdings have remained stagnant, there continues to be significant public interest in the company’s cryptocurrency policy. In the firm’s <a href="https://app.saytechnologies.com/tesla-2023-q2" target="_blank" rel="noopener noreferrer nofollow">Q&amp;A submission form</a>, numerous investors have inquired about Tesla’s potential acceptance of Bitcoin purchases.</p>
<p>CEO Elon Musk pledged to reconsider <a href="https://crypto.news/elon-musk-tesla-bitcoin-btc/" rel="noopener noreferrer nofollow">this payment method</a> if at least 50% of Bitcoin mining relies on renewable energy. However, whether Musk or other executives addressed these questions during the earnings call remains unclear.</p>
<p>You might also like: <a href="https://crypto.news/tesla-saw-204m-loss-with-bitcoin-last-year/" rel="noopener noreferrer nofollow"> Tesla saw $204m loss with bitcoin last year </a></p>
<h2 class="wp-block-heading" id="tesla-s-q2-revenue-hits-record-high">Tesla’s Q2 revenue hits record high</h2>
<p>Besides the unchanged Bitcoin holdings, Tesla’s most recent report stands out due to recording $25 billion in revenues during Q2. The company’s report also emphasized its advancements in artificial intelligence, showcasing its Dojo training computers and their contributions to Tesla’s technological prowess.</p>
<p>Despite beating expectations, the market seemingly failed to register much in the way of a positive response. Tesla’s stock experienced a <a href="https://www.google.com/finance/quote/TSLA:NASDAQ?sa=X&amp;ved=2ahUKEwi2vqez-5uAAxWVSGwGHWW-ArsQ3ecFegQIahAX" target="_blank" rel="noopener noreferrer nofollow">0.71% decline</a> during regular trading hours and a further 4.90% drop after hours.</p>
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio">
 <div class="wp-block-embed__wrapper">
  <iframe title="$20 MILLION BITCOIN... AI, Tesla, recession, and collapse!" width="1020" height="574" src="https://www.youtube.com/embed/q5T_i-kwiBQ?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen sandbox="allow-scripts allow-same-origin allow-popups allow-forms"></iframe>
 </div>
</figure>
<p>According to <a href="https://www.cnbc.com/2023/07/19/tesla-tsla-earnings-q2-2023.html" target="_blank" rel="noopener noreferrer nofollow">reports</a>, the dip in stock prices can be attributed to Musk and other executives failing to provide specific details and timelines for upcoming vehicle releases. Additionally, Tesla’s Q3 manufacturing output is expected to decrease due to factory upgrades and shutdowns.</p>
<p>In another related development, senator Elizabeth Warren has raised concerns over potential conflicts of interest between Tesla and Twitter. The matter has come into the spotlight after Tesla’s CEO, Elon Musk, acquired Twitter in October 2022.</p>
<p>Read more: <a href="https://crypto.news/elizabeth-warren-demands-end-to-crypto-fentanyl-financing/" rel="noopener noreferrer nofollow"> Elizabeth Warren demands end to crypto fentanyl financing </a></p>

Tesla maintains $184m BTC holdings amidst record revenue

Table of Contents

crypto.news

Other articles published on Jul 20, 2023

Join our free newsletter for daily crypto updates!