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For the fourth quarter in a row, Tesla hasn’t sold or added to its digital asset holdings with the electric vehicle manufacturer continuing to hold $184 million worth of its remaining Bitcoin (
$77,327.00 ) (BTC).
In Q2 2023 earnings released on July 19 the net value of Tesla’s Bitcoin ( $77,327.00 ) holdings stood at $184 million which has held at the same value for the past two quarters.
Tesla hasn’t bought or sold any Bitcoin ( $77,327.00 ) since Q2 last year when it sold more than 30,000 Bitcoin ( $77,327.00 ) — which accounted for roughly 75% of its total holdings — for $936 million.
Tesla’s Bitcoin ( $77,327.00 ) holdings totaled $184 million at the end of Q2. Source: Tesla
Tesla first purchased $1.5 billion worth of Bitcoin ( $77,327.00 ) in March 2021 with the company’s CEO Elon Musk promising to accept Bitcoin ( $77,327.00 ) as payment for Tesla vehicles in the following days.
Musk later halted Bitcoin ( $77,327.00 ) payments for Tesla vehicles, however, and cited environmental concerns brought about by Bitcoin ( $77,327.00 ) ’s high energy usage as the reason for the backtrack.
Tesla has been outperforming analyst expectations this year, with the company reporting adjusted earnings per share of $0.91, beating analyst predictions by $0.09. Revenue also outperformed on the upside, with Tesla’s $24.9 billion in Q2 revenue beating expectations by 0.81%.
Related: Elon Musk kickstarts new AI company to ‘understand the universe’
Despite beating expectations, the market seemingly failed to register much in the way of a positive response. Tesla’s stock price dropped 4.19% to $279.07 in after-hours trading according to data from Google Finance.
Tesla stock price dropped 4.19% in after-hours trading. Source: Google Finance
Bitcoin ( $77,327.00 ) is down nearly 5% for the week and is currently changing hands for $29,914, according to Cointelegraph data.
Some traders expect Bitcoin ( $77,327.00 ) to revisit a price of roughly $27,500 in the coming days after failing to hold strong above the $30,000 resistance mark.
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