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

Tesla Reveals They Sold No Bitcoin in Q4 2024: BULLISH?

by Sham
April 23, 2024
in Business, Crypto
A A
Tesla Reveals They Sold No Bitcoin in Q4 2024: BULLISH?
1
SHARES
Share on TwitterShare on Reddit
  • Tesla did not buy or sell any Bitcoin in the first quarter of 2024, leaving its holdings at 9,720 BTC worth around $711 million.
  • Tesla reported a decline in revenue to $12.3 billion in Q1 2024, down from an estimated $21.4 billion, and had a negative free cash flow of $2.5 billion.
  • Despite missing revenue and earnings expectations, Tesla’s stock rose 5% in after-hours trading, closing at $144.61 per share.

Tesla’s latest quarterly earnings report provided an update on the status of the company’s substantial bitcoin holdings. Tesla currently owns over $711 million worth of bitcoin and has clung to this investment despite price volatility.

JUST IN: Tesla $TSLA has yet to sell any of its $711 million worth of #Bitcoin

— BlockNews.com (@blocknewsdotcom) April 23, 2024

Tesla’s Bitcoin Holdings Remain Intact

In the first quarter of 2024, Tesla did not sell any of its over 9720 bitcoins. This marks the seventh consecutive quarter that Tesla has not sold any of its bitcoin. The company originally invested in bitcoin in early 2021 and sold 10% of its holdings in mid 2022. However, since then Tesla has held steady with its remaining bitcoin stash.

Impact on Tesla’s Balance Sheet

While Tesla did not sell its bitcoin this quarter, the value of its holdings likely increased substantially as bitcoin’s price rose leading up to the recent halving event. This bitcoin price appreciation may have positively impacted Tesla’s balance sheet. However, Tesla did report an overall revenue decline in Q1 2024 compared to projections. The company also had negative free cash flow of $2.5 billion.

Market Reaction

Despite the revenue and earnings misses, Tesla’s stock price increased around 5% in after-hours trading following the earnings release. While Tesla has faced business challenges recently, investors seem confident in the company’s long-term outlook and commitment to emerging technologies like cryptocurrency.

Conclusion

Tesla’s ongoing bitcoin holdings signal the company’s belief in the cryptocurrency as a valuable asset. As the price of bitcoin continues to fluctuate, it will be interesting to see if Tesla chooses to liquidate some of its holdings or acquire more in the future. Either way, Tesla remains one of the most high-profile public companies invested in bitcoin.

Tags: Bitcoinbitcoin stashtesla
TweetShareShare

DON'T MISS THESE! HOT OFF THE PRESS

Is $300K Bitcoin Really Possible? Why Top Experts Say It’s Not as Crazy as It Sounds
Bitcoin

Is $300K Bitcoin Really Possible? Why Top Experts Say It’s Not as Crazy as It Sounds

June 20, 2025
Altcoin ETF Odds Surge: XRP DOGE ADA Nearing Approval Threshold
Cardano

Altcoin ETF Odds Surge: XRP DOGE ADA Nearing Approval Threshold

June 20, 2025
XRP Stuck Below $3 as Network Activity and Open Interest Decline
Crypto

XRP Stuck Below $3 as Network Activity and Open Interest Decline

June 20, 2025
Elon Musk Sparks Brief PEPE Rally With Another Meme Post
Crypto

Elon Musk Sparks Brief PEPE Rally With Another Meme Post

June 20, 2025
XRP Holds Steady Near $2.15 as Market Stagnation Drags On
Crypto

XRP Holds Steady Near $2.15 as Market Stagnation Drags On

June 20, 2025
XRP Positioned for Breakout Amid Global Uncertainty, Analysts Say
Crypto

XRP Positioned for Breakout Amid Global Uncertainty, Analysts Say

June 20, 2025
Load More

Related News

Is $300K Bitcoin Really Possible? Why Top Experts Say It’s Not as Crazy as It Sounds

Is $300K Bitcoin Really Possible? Why Top Experts Say It’s Not as Crazy as It Sounds

June 20, 2025
Altcoin ETF Odds Surge: XRP DOGE ADA Nearing Approval Threshold

Altcoin ETF Odds Surge: XRP DOGE ADA Nearing Approval Threshold

June 20, 2025
XRP Stuck Below $3 as Network Activity and Open Interest Decline

XRP Stuck Below $3 as Network Activity and Open Interest Decline

June 20, 2025
Vladimir Putin Says Global Tensions Edge Toward World War III

Vladimir Putin Says Global Tensions Edge Toward World War III

June 20, 2025
Elon Musk Sparks Brief PEPE Rally With Another Meme Post

Elon Musk Sparks Brief PEPE Rally With Another Meme Post

June 20, 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.