Tesla’s Q1 2023 Bitcoin Holdings Remain Flat Despite Rising Price
Key Points:
- Tesla’s Bitcoin holdings remained unchanged in Q1 2023, despite the rising price of Bitcoin.
- The firm’s Q1 profit was $2.5 billion, which is down from $3.32 billion a year earlier.
- It continues to hold 9,700 Bitcoin as of February 2023, despite concerns about the impact of such a large holding on the market.
Tesla didn’t sell its $184M Bitcoin in Q1 2023; the valuation remained flat. Q1 profit was $2.5B, down from $3.32B a year earlier. BTC price is under $30,000. Tesla holds 9,700 BTC as of Feb 2023.
Tesla recently announced that it did not sell any of its $184 million Bitcoin holdings in the first quarter of 2023. Despite BTC’s rising price to about $28,500 at the end of the quarter, Tesla’s BTC valuation remained flat. This is the third consecutive quarter in which Tesla did not make any changes to its BTCholdings.
In a recent update, Tesla reported a net profit of $2.5 billion, down from $3.32 billion a year earlier. The company missed market estimates for first-quarter margin due to aggressive price cuts to spur demand amid a sagging economy and rising competition. However, Tesla still expects to achieve deliveries of around 1.8 million vehicles this year.
The Bitcoin (BTC) price has dropped to under $30,000, currently sitting at $29,248.71, according to CoinMarketCap. Despite this, Elon Musk has continued to express his support for other cryptocurrencies, particularly Dogecoin (DOGE), mentioning it in recent interviews.
Tesla acquired $1.5 billion in BTC in 2021 and held 9,700 BTC as of February 2023. The company’s Bitcoin holdings have been a topic of interest in the cryptocurrency community, with some experts expressing concern about the potential impact of such a large holding on the market.
At the time of writing, Bitcoin (BTC) price dropped to under $30,000, currently sitting at $28,848.71, according to CoinMarketCap.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Thana
Coincu News
Author
Bitcoin
Tesla’s Q1 2023 Bitcoin Holdings Remain Flat Despite Rising Price
Key Points:
- Tesla’s Bitcoin holdings remained unchanged in Q1 2023, despite the rising price of Bitcoin.
- The firm’s Q1 profit was $2.5 billion, which is down from $3.32 billion a year earlier.
- It continues to hold 9,700 Bitcoin as of February 2023, despite concerns about the impact of such a large holding on the market.
Tesla didn’t sell its $184M Bitcoin in Q1 2023; the valuation remained flat. Q1 profit was $2.5B, down from $3.32B a year earlier. BTC price is under $30,000. Tesla holds 9,700 BTC as of Feb 2023.
Tesla recently announced that it did not sell any of its $184 million Bitcoin holdings in the first quarter of 2023. Despite BTC’s rising price to about $28,500 at the end of the quarter, Tesla’s BTC valuation remained flat. This is the third consecutive quarter in which Tesla did not make any changes to its BTCholdings.
In a recent update, Tesla reported a net profit of $2.5 billion, down from $3.32 billion a year earlier. The company missed market estimates for first-quarter margin due to aggressive price cuts to spur demand amid a sagging economy and rising competition. However, Tesla still expects to achieve deliveries of around 1.8 million vehicles this year.
The Bitcoin (BTC) price has dropped to under $30,000, currently sitting at $29,248.71, according to CoinMarketCap. Despite this, Elon Musk has continued to express his support for other cryptocurrencies, particularly Dogecoin (DOGE), mentioning it in recent interviews.
Tesla acquired $1.5 billion in BTC in 2021 and held 9,700 BTC as of February 2023. The company’s Bitcoin holdings have been a topic of interest in the cryptocurrency community, with some experts expressing concern about the potential impact of such a large holding on the market.
At the time of writing, Bitcoin (BTC) price dropped to under $30,000, currently sitting at $28,848.71, according to CoinMarketCap.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Thana
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