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Tesla has not bought or sold any crypto since Q1 2021
Tesla hasn't traded a cryptocurrency in a year, its latest earnings report shows. The company currently has $1.26 billion worth of digital assets. Since Tesla made its $1.5 billion Bitcoin investment in the first quarter of 2021, it has refrained from pursuing further digital asset deals. The electric car company reported $1.26 billion in digital asset holdings in its first-quarter earnings report Wednesday, nearly unchanged from its holdings at the end of the fourth quarter of 2021. Tesla has not bought or sold any crypto assets since the first quarter of 2021, it said in...
Tesla has not bought or sold any crypto since Q1 2021
- Tesla hat seit einem Jahr keine Kryptowährung mehr gehandelt, wie sein jüngster Gewinnbericht zeigt
- Das Unternehmen verfügt derzeit über digitale Vermögenswerte im Wert von 1,26 Milliarden US-Dollar
Since Tesla made its $1.5 billion Bitcoin investment in the first quarter of 2021, it has refrained from doing any further business in the digital asset.
The electric car company reported $1.26 billion in digital asset holdings in the first quarter Results report Wednesday, nearly unchanged from its holdings at the end of the fourth quarter of 2021.
Tesla has not bought or sold any crypto assets since the first quarter of 2021, the statements said. Any changes in the inventory value of the company's digital assets since then have been due to price fluctuations. In the third quarter of 2021, Tesla reported a $51 million loss as “Bitcoin-related impairment,” a required disclosure to reflect a decline in the price of the largest cryptocurrency.
Tesla reported revenue of $18.76 billion in the first quarter of 2022, beating expectations of $17.80 billion. Automotive revenue was $16.86 billion, up 87% from the year-ago quarter.
The earnings report comes as Tesla CEO Elon Musk's love-hate relationship with cryptocurrencies continues to play out on the public stage.
In March 2021, a month after Tesla's Bitcoin purchase, Musk announced via Twitter that the company would accept Bitcoin as payment. Less than two months later, also in a tweet, Musk contradicted his previous statement and revealed that Tesla would not accept Bitcoin due to the cryptocurrency's environmental impact.
In July, Musk made it clear that if Bitcoin mining moves in a sustainable direction, he would consider adding it as a payment method. In October, the company confirmed that it was leaving the door open for crypto payments SEC filing.
In January 2022, Musk expressed his interest in another cryptocurrency – the so-called meme coin DogeCoin. Tesla now accepts payments in DogeCoin on its online shop for selected items.
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The post “Tesla has not bought or sold crypto since Q1 2021” is not financial advice.