Financials for Tesla show that it did not buy or sell any Bitcoin for the second quarter in a row in its latest Q4 results report on Jan. 25. This was despite significant market upheaval in November and December due to the collapse of FTX.
Bitcoin was around $19,500 on Sept. 30, 2022, before falling over 15% to $16,600 by Dec. 31.
Tesla holds strong to Bitcoin holdings
According to the report, the company held $184 million in digital assets as of Dec. 31, 2022, down from $218 million the previous quarter due to $34 million in impairment charges as Bitcoin’s price fell between the end of September and December last year.
The EV maker also kept holding onto its Bitcoin into the third quarter of last year after selling 75% of it in the first. The Q2 sale increased Tesla’s cash on hand by $936 million, and the company made a profit of $64 million.
Elon Musk, the CEO of Tesla, said at the time that the sale was intended to “prove liquidity of Bitcoin as an alternative to holding cash on a balance sheet.”
Tesla’s most recent earnings call on January 25 did not address its Bitcoin holdings or position, though. According to estimates, Tesla has 9,720 BTC.