{"id":18344,"date":"2023-01-26T19:46:57","date_gmt":"2023-01-27T03:46:57","guid":{"rendered":"https:\/\/coinnetworknews.com\/teslas-q4-balance-sheet-shows-bitcoin-holdings-worth-184-million-featured-bitcoin-news\/"},"modified":"2023-01-26T19:46:57","modified_gmt":"2023-01-27T03:46:57","slug":"teslas-q4-balance-sheet-shows-bitcoin-holdings-worth-184-million-featured-bitcoin-news","status":"publish","type":"post","link":"https:\/\/coinnetworknews.com\/teslas-q4-balance-sheet-shows-bitcoin-holdings-worth-184-million-featured-bitcoin-news\/","title":{"rendered":"Tesla’s Q4 Balance Sheet Shows Bitcoin Holdings Worth $184 Million \u2013 Featured Bitcoin News"},"content":{"rendered":"
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Tesla\u2019s latest balance sheet shows the company\u2019s bitcoin holdings worth $184 million. Tesla did not sell any digital assets in the fourth quarter of 2022 despite the crypto winter and contagion in the crypto ecosystem.<\/strong><\/p>\n

Tesla\u2019s Digital Assets Valued at $184 Million<\/h2>\n

Tesla Inc. (Nasdaq: TSLA) released its earnings results for Q4 2022 on Wednesday. The company\u2019s balance sheet shows net digital assets of $184 million, down from $218 million in the previous quarter<\/a>. According to its other financial statements, no digital assets were bought or sold during the fourth quarter.<\/p>\n

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Tesla\u2019s Q4 2022 balance sheet. Source: Tesla Inc.<\/figcaption><\/figure>\n

The electric car company\u2019s digital assets comprise mostly bitcoin. The reduced value of its crypto holdings is due to fluctuations in the price of BTC<\/a>, which led to an impairment charge of $34 million. At the time of writing, bitcoin is trading at $23,087; it fell from about $47.8K to around $16.6K during 2022.<\/p>\n

Tesla has not revealed how many bitcoin it owns but an industry estimate<\/a> suggests that it is hodling about 9,720 BTC<\/a>. Besides bitcoin, Tesla also holds a small amount of dogecoin (DOGE) which it acquired from selling some merchandise for the meme cryptocurrency. The company began accepting<\/a> payments in dogecoin for some merchandise in January last year.<\/p>\n

Tesla bought $1.5 billion worth of BTC<\/a> in early 2021 and has not purchased any more since. However, the company dumped about 75% of its BTC<\/a> holdings in the second quarter of last year. CEO Elon Musk explained<\/a> at a time that Tesla sold its BTC<\/a> in order to maximize its cash position due to the uncertainty as to \u201cwhen the Covid lockdowns in China would alleviate.\u201d He emphasized: \u201cWe are certainly open to increasing our bitcoin holdings in [the] future, so this should not be taken as some verdict on bitcoin.\u201d He also mentioned that the company did not sell any DOGE.<\/p>\n

Musk himself personally owns<\/a> bitcoin, ether, and dogecoin. He tweeted in March last year that he still owns and will not sell any of the three cryptocurrencies. \u201cI still own & won\u2019t sell my bitcoin, ethereum or doge,\u201d the billionaire wrote.<\/p>\n

In Tesla\u2019s earnings call with analysts Wednesday afternoon, Musk reiterated: \u201cThere\u2019s going to be bumps along the way and we\u2019ll probably have a pretty difficult recession this year, probably. I hope not, but probably.\u201d While cautioning that \u201cone can\u2019t predict the short-term stock value,\u201d the Tesla boss stressed:<\/p>\n

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But long term, I\u2019m convinced that, Tesla will be the most valuable company on Earth.<\/p>\n<\/blockquote>\n

What do you think about Tesla hodling bitcoin throughout the crypto winter? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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