Tesla’s diamond hands: EV maker's Bitcoin holdings see no change in Q2

For the 4th fourth successful a row, Tesla hasn’t sold oregon added to its integer plus holdings with the electrical conveyance shaper continuing to clasp $184 cardinal worthy of its remaining Bitcoin (BTC).

In Q2 2023 earnings released connected July 19 the nett worth of Tesla’s Bitcoin holdings stood astatine $184 cardinal which has held astatine the aforesaid worth for the past 2 quarters.

Tesla hasn’t bought oregon sold immoderate Bitcoin since Q2 past twelvemonth when it sold much than 30,000 Bitcoin — which accounted for astir 75% of its full holdings — for $936 million.

Tesla’s Bitcoin holdings totaled $184 cardinal astatine the extremity of Q2. Source: Tesla

Tesla archetypal purchased $1.5 cardinal worth of Bitcoin successful March 2021 with the company’s CEO Elon Musk promising to judge Bitcoin arsenic outgo for Tesla vehicles successful the pursuing days.

Musk aboriginal halted Bitcoin payments for Tesla vehicles, however, and cited biology concerns brought astir by Bitcoin’s precocious vigor usage arsenic the crushed for the backtrack.

Tesla has been outperforming expert expectations this year, with the institution reporting adjusted net per stock of $0.91, beating expert predictions by $0.09. Revenue besides outperformed connected the upside, with Tesla’s $24.9 cardinal successful Q2 gross beating expectations by 0.81%.

Related: Elon Musk kickstarts caller AI institution to ‘understand the universe’

Despite beating expectations, the marketplace seemingly failed to registry overmuch successful the mode of a affirmative response. Tesla’s banal terms dropped 4.19% to $279.07 successful after-hours trading according to data from Google Finance.

Tesla banal terms dropped 4.19% successful after-hours trading. Source: Google Finance

Bitcoin is down astir 5% for the week and is presently changing hands for $29,914, according to Cointelegraph data.

Some traders expect Bitcoin to revisit a price of astir $27,500 successful the coming days aft failing to clasp beardown supra the $30,000 absorption mark.

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