2024

Bitcoin

Elon Musk’s Tesla Inc., the pioneering electric vehicle manufacturer maintained its Bitcoin holdings during the fourth quarter of last year, according to its latest quarterly report.
This steadfast approach underscores Tesla’s commitment to holding onto its cryptocurrency assets despite market fluctuations. The innovative producer of electric vehicles (EVs), Tesla, similarly<a href="https://thecoinrise.com/tesla-maintains-bitcoin-holdings-amid-ai-expansion-in-q3-2023/" rel="noopener noreferrer nofollow"> held on to its bitcoin holdings in Q3</a> of last year despite AI expansions.
<h2 id="b-consistent-bitcoin-holdings-a-strategic-move-b">Consistent Bitcoin Holdings: A Strategic Move</h2>
Tesla’s quarterly report revealed no activity related to bitcoin transactions, indicating that the company retained its holding of 9,720 bitcoin.
The absence of any mention regarding the largest cryptocurrency by market capitalization implies that Tesla did not engage in converting its bitcoin into fiat currency, a move that would typically be disclosed in such reports.
This strategic decision to hold onto its bitcoin assets showcases Tesla’s confidence in the long-term value and potential of cryptocurrencies. It is similar to<a href="https://thecoinrise.com/tesla-did-not-sell-bitcoin-in-q4-2022/" rel="noopener noreferrer nofollow"> his 2022 choice to hang onto his Bitcoin assets</a> and keep $184 million of the cryptocurrency on hand.
<h2 id="b-positioning-tesla-among-publicly-traded-firms-b">Positioning Tesla Among Publicly Traded Firms</h2>
Despite the dynamic nature of the cryptocurrency market, Tesla’s bitcoin holdings remained constant, solidifying its position as the third-largest holder of bitcoin among publicly traded firms, following MicroStrategy Inc. and<a href="https://thecoinrise.com/marathon-digital-sets-new-record-with-1853-mined-btc-in-december/" rel="noopener noreferrer nofollow"> Marathon Digital Holdings</a>, based on data from Bitcoin Treasuries.&nbsp;
This positioning not only highlights Tesla’s significant investment in the digital asset but also reinforces its status as a key player in the evolving landscape of cryptocurrency adoption among corporations.
<h2 id="b-financial-performance-amid-bitcoin-holding-b">Financial Performance Amid Bitcoin Holding</h2>
Tesla’s last bitcoin sale occurred in the second quarter of 2022 when it reduced its bitcoin holdings by 75%, selling $936 million worth of bitcoin at the time, according to available data.
Despite this previous divestment, Tesla’s decision to maintain its remaining bitcoin holdings did not adversely impact its financial performance in the fourth quarter of last year.
In the fourth quarter of last year, Tesla reported a total revenue of $25.2 billion, marking a 3% increase year-on-year. However, the company’s earnings per share for the fourth quarter stood at 71 cents, slightly lower than the forecast of 74 cents per share by analysts.
The modest variance in earnings per share, Tesla’s net income experienced significant growth, reaching $7.9 billion in the fourth quarter of last year compared to $3.7 billion in the same period the previous year.
This robust financial performance underscores Tesla’s ability to navigate challenges in the broader market while maintaining its strategic investment in cryptocurrency assets like bitcoin.
The post <a href="https://thecoinrise.com/tesla-bitcoin-holdings-remain-unmoved-in-q4-2024/" rel="noopener noreferrer nofollow">Tesla Bitcoin Holdings Remain Unmoved in Q4 2024</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Tesla Bitcoin Holdings Remain Unmoved in Q4 2024

Table of Contents

TheCoinrise Media

Other articles published on Jan 25, 2024

Bitcoin And Ethereum Monthly Options Expiry, Is Another Crypto Market Selloff Ahead?

Rebel Satoshi’s Rising Popularity Challenges Top Meme Coins Dogecoin and Shiba Inu

Polkadot Price Analysis: DOT Price Could Easily Rally Over 200% In The Near Term

Identifying what Bitcoin needs to see an uptrend

Cryptocurrency-Friendly SEC Member Hester Peirce Speaks About Ethereum ETF Approval!

Blockchain Breakthrough: Open Source GPU Acceleration for Enhanced Zero-Knowledge Proofs

Join our free newsletter for daily crypto updates!