Tesla’s Q4 Balance Sheet Shows Bitcoin Holdings Worth $184 Million

Tesla’s latest equilibrium expanse shows the company’s bitcoin holdings worthy $184 million. Tesla did not merchantability immoderate integer assets successful the 4th fourth of 2022 contempt the crypto wintertime and contagion successful the crypto ecosystem.

Tesla’s Digital Assets Valued astatine $184 Million

Tesla Inc. (Nasdaq: TSLA) released its net results for Q4 2022 connected Wednesday. The company’s equilibrium expanse shows nett integer assets of $184 million, down from $218 cardinal successful the previous quarter. According to its different fiscal statements, nary integer assets were bought oregon sold during the 4th quarter.

Tesla’s Q4 2022 equilibrium sheet. Source: Tesla Inc.

The electrical car company’s integer assets comprise mostly bitcoin. The reduced worth of its crypto holdings is owed to fluctuations successful the terms of BTC, which led to an impairment complaint of $34 million. At the clip of writing, bitcoin is trading astatine $23,087; it fell from astir $47.8K to astir $16.6K during 2022.

Tesla has not revealed however galore bitcoin it owns but an manufacture estimate suggests that it is hodling astir 9,720 BTC. Besides bitcoin, Tesla besides holds a tiny magnitude of dogecoin (DOGE) which it acquired from selling immoderate merchandise for the meme cryptocurrency. The institution began accepting payments successful dogecoin for immoderate merchandise successful January past year.

Tesla bought $1.5 cardinal worthy of BTC successful aboriginal 2021 and has not purchased immoderate much since. However, the institution dumped astir 75% of its BTC holdings successful the 2nd 4th of past year. CEO Elon Musk explained astatine a clip that Tesla sold its BTC successful bid to maximize its currency presumption owed to the uncertainty arsenic to “when the Covid lockdowns successful China would alleviate.” He emphasized: “We are surely unfastened to expanding our bitcoin holdings successful [the] future, truthful this should not beryllium taken arsenic immoderate verdict connected bitcoin.” He besides mentioned that the institution did not merchantability immoderate DOGE.

Musk himself personally owns bitcoin, ether, and dogecoin. He tweeted successful March past twelvemonth that helium inactive owns and volition not merchantability immoderate of the 3 cryptocurrencies. “I inactive ain & won’t merchantability my bitcoin, ethereum oregon doge,” the billionaire wrote.

In Tesla’s net telephone with analysts Wednesday afternoon, Musk reiterated: “There’s going to beryllium bumps on the mode and we’ll astir apt person a beauteous hard recession this year, probably. I anticipation not, but probably.” While cautioning that “one can’t foretell the short-term banal value,” the Tesla brag stressed:

But agelong term, I’m convinced that, Tesla volition beryllium the astir invaluable institution connected Earth.

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

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