Tesla’s latest earnings report shows it still holds nearly 10,000 bitcoin worth over $275 million. This unchanged position sparks an intriguing debate – is Tesla signaling stubborn conviction in bitcoin’s future, or are they a reluctant bagholder afraid to realize further losses?
Keypoints
- Tesla still holds 9,720 bitcoin worth around $275 million as of Q3 2023 earnings report. This indicates no change in its bitcoin holdings since last year.
- Tesla initially purchased over 43,000 bitcoin in early 2021 for $1.5 billion. It sold about 75% of its holdings in Q2 2022 at a loss.
- Tesla’s bitcoin holdings are still the 4th largest of any public company. Maintaining these holdings suggests potential conviction about bitcoin’s value or reluctance to realize further losses.
Tesla made waves in February 2021 when it announced a $1.5 billion bitcoin purchase. This massive institutional investment helped legitimize cryptocurrency. Tesla also…
