Why Did Tesla Keep Its Bitcoin Stash Steady in Q3?
Adekunle Joshua
In Q3, Tesla's bitcoin holdings stood at 9,720 BTC, revealed in their recent earnings report. The company made no changes, maintaining this position for the fifth consecutive quarter
Notably, Tesla's BTC holdings, valued at $275.4 million, remained untouched despite market fluctuations
This stability contrasts with their initial investment of $1.5 billion in bitcoin in February 2021
Interestingly, Tesla didn't buy or sell any BTC in the last three months, showcasing a strategic decision amidst crypto market volatility
Tesla, led by Elon Musk, initially embraced bitcoin, investing in 43,000 tokens and announcing plans to accept it as payment. However, subsequent moves signaled a more cautious approach
Despite its caution, Tesla maintains its position as the third-largest public company with bitcoin holdings, trailing behind MicroStrategy and Marathon Digital Holding