For the fourth straight quarter, according to Q2 2023 earnings reports from Tesla, the electric vehicle company, neither bought nor sold any bitcoin.
The company’s bitcoin assets were nevertheless valued at a net $184 million during the last three quarters.
Portfolio Overview
Bitcoin’s value climbed from approximately $28,500 at the end of the first quarter to $30,400 at the end of the second. Since selling over 30,000 bitcoins for $936 million in the second quarter of last year—roughly 75% of its holdings—Tesla‘s bitcoin transactions have been rather stable.
Early in 2021, Tesla made news when it spent $1.5 billion buying Bitcoin, and CEO Elon Musk declared that Tesla will henceforth accept Bitcoin as payment for its electric automobiles.
- Tesla’s Q2 2023 earnings show no Bitcoin purchases or sales.
- Bitcoin price rises to $30,400, Tesla maintains stable transactions since Q2.
- Tesla maintains bitcoin holdings, achieving strong Q2 performance.
Tesla reported good Q2 financial performance, with adjusted earnings per share of $0.91, exceeding the consensus analyst forecast of $0.80, despite its unaltered bitcoin holdings.
Additionally, it’s $24.9 billion in revenue above the $24.2 billion estimate of analysts. Tesla’s stock has increased by 1% in after-hours trading to a record-breaking $288.96.
Tesla’s choice to preserve its bitcoin holdings and its strong Q2 performance, which has seen an outstanding year-to-date rise of over 136%, perfectly captures the company’s forward-thinking ethos while navigating the crypto rollercoaster, staying the course, and reaping the benefits.
