BlockNews
  • CRYPTO
  • FINANCE
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
FOLLOW
BlockNews
  • CRYPTO
  • FINANCE
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
BlockNews
Home BUSINESS

Tesla Financial Report Reveals That The Company Did Not Sell Any Of Its Bitcoin In Q4 2022

by BlockNews Team
January 27, 2023
in BUSINESS, CRYPTO, FINANCE, Media
A A
Tesla Financial Report Reveals That The Company Did Not Sell Any Of Its Bitcoin In Q4 2022
2
SHARES
Share on XShare on RedditTelegram
  • Tesla’s financial report shows the electric car maker did not sell any of its BTC in the last quarter of 2022.
  • However, the company reported $34 million impairment charges to its Bitcoin holdings.
  • It is estimated that Tesla currently holds 9,720 BTC worth over $225 million.

Tesla (TSLA) did not sell any bitcoin during the fourth quarter (Q4) of 2022, marking the second straight quarter that the electric car manufacturer did not buy or sell any Bitcoin that year, according to the latest earnings report released on Wednesday, January 25, 2023.
Tesla is a Texas-based American multinational automotive and clean energy company. According to estimates, the company currently holds 9,720 BTC. At current rates, Tesla’s BTC holdings are worth more than $223 million.

Tesla’s Q4 Earnings Report

The Q4 report showed that as of December 31, 2022, Tesla held $184 million in digital assets, a 16% drop ($34 million) from the previous quarter when the company recorded $218 million. The decrease in the value of the company’s digital assets is attributed to cryptocurrency price fluctuations that were particularly noticeable between September and December of 2022.

At the end of Q3, the BTC price was slightly below $20K, compared to the $16.5K recorded at the end of Q4. Reportedly, the electric carmaker did not change its Bitcoin holdings in the third quarter.

However, the case was different in Q2, where Tesla surprised crypto investors when it sold $936 million worth of BTC. This was around 75% of its total considerable crypto holdings, adding $936 million to its financials. Their goal drove the move to raise cash amid uncertainties around COVID-19 lockdowns in China.

According to market pundits, Tesla made a profit of around $64 million after selling most of its BTC. Nevertheless, Tesla CEO Elon Musk explained that at the time, the company was open to increasing its Bitcoin exposure in the future, adding that the sale “should not be taken as some verdict on Bitcoin.” Musk noted:

“The company sold BTC to prove liquidity of Bitcoin as an alternative to holding cash on a balance sheet.”

In general, Tesla reported adjusted earnings per share of $1.19 for Q4. This was ahead of the unanimity of analyst estimates reported to FactSet of $1.13 per share on revenue of $24.3 billion, lower than analyst estimates of $24.7 billion.

Notably, Tesla shares were up 10.97% to $160.27 hours after trading on Friday, January 27.

Elon Musk’s Tesla Escapes Liquidity Trap

It is worth noting that by holding its Bitcoin assets, the firm escaped the exit liquidity trap that plagued BTC holders since the asset climbed above $23,000.

The recent Bitcoin rally that kicked off in January 2023 surprised many investors. However, alongside surging prices, there has been a spike in motivation for holders and miners to take exit liquidity following the prolonged bear market of 2022.

New investors and miners on the Bitcoin network have been motivated to book profits, alongside a spike in resilience for long-term holders.
When the crypto market suffers a prolonged bottom (or top) discovery stage, the behavior of new investors becomes a critical factor in the formation of local recovery (or correction) pivot points. The behavior is assessable using the Percentage of Short-Term Holder Supply in Profit metric by crypto intelligence tracker Glassnode.

Tesla’s average cost per Bitcoin stands at $32,099, making the firm more likely to profit from shedding BTC holdings the moment the most major crypto asset by market cap tags the $32,000 level. The electric carmaker is unlikely to sell its BTC before it reaches the key $32,000 mark because doing so would mean Tesla books losses.

Therefore, the company’s break-even for Bitcoin holdings stands at $32,099, with experts on crypto Twitter interpreting the firm’s move to hold on to BTC as a show of commitment to embracing Bitcoin and cryptocurrencies in general.

Tags: BitcoinBTCBusinessElon Musktesla
Tweet1ShareShareShare1

DON'T MISS THESE! HOT OFF THE PRESS

TRX Finds Its Floor as IPO Hype and Political Buzz Stir Up the Market
CRYPTO

TRX Finds Its Floor as IPO Hype and Political Buzz Stir Up the Market

June 21, 2025
Dogecoin to $5? One Analyst Thinks It’s Coming—and Has Charts to Back It Up
CRYPTO

Dogecoin to $5? One Analyst Thinks It’s Coming—and Has Charts to Back It Up

June 21, 2025
Solana vs Litecoin: Who’s Closer to That Sweet ETF Approval?
CRYPTO

Solana vs Litecoin: Who’s Closer to That Sweet ETF Approval?

June 21, 2025
Binance Coin Builds Tension Beneath Resistance as Traders Brace for Impact
Binance BNB

Binance Coin Builds Tension Beneath Resistance as Traders Brace for Impact

June 21, 2025
XRP Ledger Shatters Record with 5.1 Million Transactions in a Day
CRYPTO

XRP Ledger Shatters Record with 5.1 Million Transactions in a Day

June 21, 2025
Ethereum Might Be Way Too Cheap… If Stablecoins Blow Up
CRYPTO

Ethereum Might Be Way Too Cheap… If Stablecoins Blow Up

June 21, 2025
Load More

Related News

TRX Finds Its Floor as IPO Hype and Political Buzz Stir Up the Market

TRX Finds Its Floor as IPO Hype and Political Buzz Stir Up the Market

June 21, 2025
Dogecoin to $5? One Analyst Thinks It’s Coming—and Has Charts to Back It Up

Dogecoin to $5? One Analyst Thinks It’s Coming—and Has Charts to Back It Up

June 21, 2025
Solana vs Litecoin: Who’s Closer to That Sweet ETF Approval?

Solana vs Litecoin: Who’s Closer to That Sweet ETF Approval?

June 21, 2025
Binance Coin Builds Tension Beneath Resistance as Traders Brace for Impact

Binance Coin Builds Tension Beneath Resistance as Traders Brace for Impact

June 21, 2025
XRP Ledger Shatters Record with 5.1 Million Transactions in a Day

XRP Ledger Shatters Record with 5.1 Million Transactions in a Day

June 21, 2025
Discord Twitter Youtube TikTok Instagram

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • Home
  • CRYPTO
  • Memecoins
  • Technology
  • Politics
  • FINANCE
  • NFT
  • DEFI
  • Opinion

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.