Tesla hasn’t sold a single bitcoin despite the FTX crash
[ad_1]
The American electric car manufacturer did not buy or sell bitcoins in the fourth quarter of 2022 (the second quarter in a row). This is evidenced by the company’s latest profit and loss report, CoinDesk reports.
Photo: pixabay.com 3
► Read the Ministry of Finance Telegram channel: the main financial news
Details
The value of Tesla’s digital assets at the end of the fourth quarter was $184 million, compared to $218 million at the end of the third quarter. This happened due to the decrease in the price of bitcoin.
At the end of the third quarter, the price of bitcoin was slightly below $20,000, and at the end of the fourth quarter – about $16,500.
Tesla also didn’t trade bitcoin in the third quarter, but in the second quarter the company surprised some investors by selling $936 million worth of BTC, or roughly 75% of its total assets, to raise cash amid uncertainty surrounding China’s COVID-19 quarantine.
But then CEO Elon Musk said that the company is open to increasing the share of bitcoins in the future, and that the sale “should not be perceived as any kind of verdict on bitcoins.”
Read also: Why retail investors continue to buy Tesla shares
Let’s remind
The Ministry of Finance wrote that Tesla recorded a record net profit at the end of the fourth quarter of 2022 and significantly increased revenue.
Net profit in October-December grew to $3.69 billion from $2.3 billion in the same period of the previous year. Earnings per share increased from $0.68 to $1.07, last year’s figure was calculated taking into account a 3:1 share split.
Source: Ministry of Finance
Views: 18
[ad_2]
Original Source Link
