Tesla, the renowned electric vehicle manufacturer led by CEO Elon Musk, maintained its Bitcoin investment through the fourth quarter of 2023. This information comes from Tesla’s latest earnings report, which revealed no changes in the company’s Bitcoin holdings.
The absence of any mention of Bitcoin in the quarterly report suggests that Tesla neither purchased nor sold any Bitcoin during the three months ending September. As of now, Tesla’s Bitcoin investment is valued at approximately $387 million.
According to Bitcoin Treasuries, Tesla possesses over 9,720 BTC, ranking it as the third-largest public holder of the cryptocurrency. This position places Tesla behind MicroStrategy, a software firm, and Marathon, a mining company.
Tesla’s journey with Bitcoin began in February 2021, with an initial investment of $1.5 billion. This significant move resulted in the acquisition of roughly 43,000 BTC. In the same month, Tesla also announced that it would start accepting Bitcoin as a payment method, signaling a strong commitment to the cryptocurrency.