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Tesla's Expected Bitcoin Statement Has Arrived: Has It Sold? - Coin Newsletter
Elon Musk's company Tesla has revealed how much Bitcoin it holds on its balance sheet as of the last quarter of 2023.
According to the statement made by Tesla, the company has not sold any of its Bitcoins, which are worth $388 million at the current price.
According to the company's report for the last quarter of 2023, Tesla did not make any extra Bitcoin purchases.
Before the annual report was announced, it was known that the company had 9,720 Bitcoins on its balance sheet. Tesla hasn't sold Bitcoin for six quarters in a row.
Elon Musk's company invested $1.5 billion in Bitcoin in February 2021, buying around 43,000 coins. The company, which sold 4,320 Bitcoins in the first quarter of the same year, disposed of the remaining 75% in the past year.
Tesla's quarterly revenue was $25.2 billion, contrary to analysts' estimate of $25.87 billion.