Bitcoin

April

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Tesla, the leading e-car manufacturer,&nbsp;<a href="https://digitalassets.tesla.com/tesla-contents/image/upload/IR/TSLA-Q1-2024-Update.pdf">keeps holding</a> $184 million worth of digital assets on its balance sheet, according to its Q1 earnings results.&nbsp; &nbsp;
Even though the price of Bitcoin is up more than 72% on a year-to-date basis, the value of the company's holdings remains unchanged due to the fact that unrealized gains do not have to be recorded.
Tesla initially acquired a whopping $1.5 billion worth of Bitcoin back in February 2021, pushing the price of the flagship cryptocurrency to new highs. the&nbsp;
In April 2021, Tesla reduced its position by 10% in order to secure $272 million worth of proceeds.&nbsp;
In July, the leading e-car maker&nbsp;<a href="https://u.today/breaking-tesla-sells-most-of-its-bitcoin-holdings">sold</a> the vast majority of its Bitcoin holdings.&nbsp;
<h2 id="tesla-shares-surge">Tesla shares surge&nbsp;</h2>
The leading e-car manufacturer has recorded a massive 55% drop in profits in the first quarter of the year. Meanwhile, its revenue dropped as much as 9%.&nbsp;
The Tesla stock is down more than 40% on a year-to-date basis as the stock continues to face tough competition in China. Elon Musk's company is struggling to compete with China's domestic manufacturers of the likes of BYD.&nbsp;
Despite grim financial results, Musk still managed to excite investors by announcing that it plans to launch a cheaper Tesla in the second half of 2025. The Tesla boss also hinted that the company's robotaxi could be called "Cybercab." &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
While the details were extremely scant, Musk's vague promises still managed to push the stock significantly higher. TSLA is currently up as much as 13% in pre-market trading.&nbsp;
Earlier this month, the company was also forced to announce massive layoffs in order to reduce costs.&nbsp;

Here’s How Much Bitcoin Tesla Now Holds

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