HODL

Bitcoin

Elon Musk

In a recent quarterly report, electric vehicle giant Tesla, led by Elon Musk, disclosed that it did not engage in buying or selling <a href="https://news.todayq.com/gbtc-bleeds-bitcoin-moves-100k-btc-to-exchange/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin </a>during the last quarter of 2023. The absence of mention in the report suggests that Tesla retained its substantial holding of 9,720 bitcoins. It will be keen to see if Tesla maintains its crypto stance ahead. Tesla’s Bitcoin investment 
The report states that Tesla still holds around 9,720 Bitcoins (approx worth $387 million). Tesla is the third-biggest holder, among the biggest public companies backing Bitcoin. The top two organizations in the list are MicroStrategy Inc. and Marathon Digital Holdings, which depicts data from Bitcoin Treasuries.
Tesla initially stepped into the crypto space in February 2021, making headlines with a $1.5 billion investment in Bitcoin. This move resulted in the acquisition of around 43,000 BTC. At the same time, Elon Musk said that Tesla would let people use Bitcoin to buy its cars, which was a big show of support for the largest digital currency.
Notably, the latest quarterly report did not mention any Bitcoin-related activities during the fourth quarter of 2023. This means Tesla didn’t turn its Bitcoin into regular money during the last quarter, something they usually tell us about in their financial reports. The report suggests that the <a href="https://news.todayq.com/tesla-maintains-bitcoin-holdings-focuses-on-ai-as-earnings-miss-expectations/" target="_blank" rel="noopener noreferrer nofollow">EV giant</a> was positive on its bet during the bad phase of Bitcoin. Financial performance and Bitcoin holdings 
The company’s Bitcoin journey has seen some fluctuations, with Tesla selling a substantial portion of its Bitcoin holdings in the second quarter of 2022. At that time, it offloaded $936 million worth of Bitcoin, reducing its holdings by 75%.
Tesla’s Q4 2023 report revealed positive financial results for the company. They made a total of $25.2 billion, which is 3% more than the year before. For each share they have, they earned 71 cents, just a bit less than what experts thought, which was 74 cents per share. Tesla’s net income surged to $7.9 billion in the fourth quarter of 2023. That’s a big leap from the $3.7 billion they made during the same time in the previous year.
While Tesla’s focus in the quarterly report was primarily on its overall financial performance, the maintenance of its substantial Bitcoin holdings suggests a continued belief in the long-term potential of crypto.&nbsp;
At the press time, Tesla’s share price stands at $207.83, and the current price of Bitcoin hovers around $40,053.44, reflecting a slight 0.51% increase in the last 24 hours.
Elon Musk’s Tesla has played a pivotal role in bringing attention to the intersection of traditional finance and the emerging world of cryptocurrencies. The company’s periodic updates on its Bitcoin holdings serve as a barometer for market sentiment and investor interest in the crypto space.
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Elon Musk’s Tesla reveals its Bitcoin holdings, HODL or not?

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