Tesla maintains a six-quarter streak of unchanged Bitcoin holdings, with no buying or selling activity in Q4 2023.
Tesla is now the fourth-largest public company, with 10,500 BTC in its portfolio.
Tesla, the pioneering automotive giant led by Elon Musk, has disclosed that it retained its entire Bitcoin (BTC) reserves valued at $336 million throughout the fourth quarter of 2023, as confirmed in the company’s latest earnings report. The report detailed that Tesla neither bought nor sold Bitcoin during this period.
Tesla’s Q4 2023 results, released on January 24, show the company held $184 million in digital assets, excluding BTC, as of December 31. Notably, “Tesla did not buy or sell any Bitcoin” since its significant sell-off in Q2 2022 when it fetched $936 million for over 30,000 BTC.
Tesla Digital Assets Holding (Source: Tesla)
This marks the sixth consecutive quarter in which Tesla has refrained from making any sales from its substantial Bitcoin holdings, which stood at 9,720 BTC before the earnings report. Further, the value of Bitcoin has experienced a decline compared to the previous quarter, adding an interesting dimension to Tesla’s crypto portfolio.
Tesla’s Position in the Bitcoin Market
Bitcoin Holdings by Public Companies (Source: CoinGecko)
According to data from CoinGecko, Tesla now holds approximately 10,500 Bitcoins, with a current market value of $417 million. This positions Tesla as the fourth-largest publicly traded company with a significant Bitcoin portfolio, following leaders in this space including MicroStrategy, led by Michael Saylor, Galaxy Digital Holdings, and Marathon Digital Holdings.