Generative Data Intelligence

Market Analysis Report (26 Jan 2023)


Electric car maker Tesla (TSLA) hasn’t bought or sold any Bitcoin in the last quarter of 2022, making it the second straight quarter in which the company’s BTC holdings remain unchanged. The value of Tesla’s Bitcoin holdings has dropped from $218 million to $184 million.

The decline was a result of impairment charges from a decline in Bitcoin’s price. At the end of the third quarter, the price of BTC was slightly below $20,000, while at the end of the fourth quarter, the cryptocurrency was trading at around $16,500.

While Tesla didn’t change its cryptocurrency holdings in Q3 2022, in the second quarter it surprised some by selling $936 million worth of BTC, or roughly 75% of its holdings, to raise cash due to uncertainty surrounding COVID-19 lockdowns in China.

At the time, Tesla CEO Elon Musk said that the firm was open to increasing its bitcoin exposure in the future, and that the sale “should not be taken as some verdict on Bitcoin.”

In Q4 2022, Tesla reported earnings per share of $1.19, beating analyst estimates of $1.13. Its revenue was $24.3 billion, below analyst estimates of $24.7 billion.


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