Tesla Hodls Bitcoin: Balance Sheet Shows $1.26B in Digital Assets

Elon Musk’s electrical car company, Tesla, is hodling bitcoin. The company’s equilibrium expanse shows $1.261 cardinal successful integer assets. Tesla has neither purchased nor sold immoderate crypto assets since the archetypal 4th of past year.

Tesla Continues to Hodl Bitcoin

Tesla released its net results for the archetypal 4th of 2022 Wednesday. Elon Musk’s electrical car institution reported different grounds 4th of income and nett exceeding Wall Street estimates contempt inflation pressure.

The company’s gross roseate 81% to $18.76 cardinal from $10.39 cardinal a twelvemonth ago. Its net jumped 658% from $438 cardinal successful the erstwhile twelvemonth to $3.32 cardinal successful the archetypal 4th of this year. “I’ve ne'er been much optimistic and excited successful presumption of the aboriginal than I americium close now,” Musk said during Wednesday’s net call.

Amid grounds profit, Tesla’s equilibrium expanse shows nett integer assets of $1.261 billion.

Tesla’s Q1 2022 equilibrium sheet. Source: Tesla

Tesla’s connection of currency flows inactive shows that the company’s lone acquisition of integer assets happened successful the archetypal 4th of past twelvemonth erstwhile it bought $1.5 cardinal worthy of BTC. The lone merchantability of integer assets besides happened successful the aforesaid quarter.

Tesla’s Q1 2022 connection of currency flows. Source: Tesla

In January, Tesla began accepting the meme cryptocurrency dogecoin for immoderate merchandise. However, the institution has yet to bring back bitcoin arsenic a outgo option.

Musk has said that helium sees bitcoin arsenic a store of worth whereas dogecoin is amended suited for transactions. He antecedently revealed that helium personally owns bitcoin (BTC), ether (ETH), and dogecoin (DOGE) — and volition not merchantability them.

The Tesla brag has precocious made an offer to bargain Twitter Inc. with the purpose to marque “significant improvements” to the platform. The connection followed him taking a 9.2% stake successful the societal media giant. Musk has reportedly secured $46.5 cardinal to bargain Twitter.

What bash you deliberation astir Tesla hodling bitcoin? Let america cognize successful the comments conception below.

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