Tesla's Q4 balance sheet shows Bitcoin stocks worth $ 184 million

The latest record of Tesla shows the company's Bitcoin stocks worth $ 184 million. Tesla did not sell digital assets in the fourth quarter of 2022 despite the crypto winter and the infection in the crypto ecosystem.

Teslas digital assets worth $ 184 million

Tesla Inc. (Nasdaq: TSLA) published his winning results for the fourth quarter of 2022 on Wednesday. The company's balance sheet shows a digital net assets of $ 184 million compared to $ 218 million in the previous year Previously . According to the other annual financial statements, no digital assets were bought or sold in the fourth quarter.

The digital assets of the electric car company mainly consist of Bitcoin. The reduced value of his crypto stocks is due to price fluctuations Bitcoin , which led to a reduction in value of 34 million US dollar. At the time of writing this article, Bitcoin is traded at $ 23,087; It fell from around $ 47.8,000 to around $ 16.6,000 in 2022.

Tesla has not announced how many bitcoins it has, but an industry appreciate indicates that it is about 9.720 Bitcoin . In addition to Bitcoin, Tesla also holds a small amount of Dogecoin (Doge) who acquired it for the meme cryptocurrency by selling some goods. The company began accept payments in Dogecoin for some goods in January.

Tesla bought bitcoin at the beginning of 2021 and has since bought no more since then. However, the company sold about 75 % of its Bitcoin Investments in the second quarter of last year. CEO Elon Musk at a time when Tesla has been sold bitcoin to maximize his liquidity position based on the uncertainty, "when the covid locks in China would decrease". He emphasized: "We are certainly open to increase our Bitcoin stocks [the] future, so this should not be understood as a judgment about Bitcoin." He also mentioned that the company did not sell a doge.

Musk itself personally has Bitcoin, ether and Dogecoin. In March of last year, he tweeted that he does not yet have any of the three cryptocurrencies. "I still have Bitcoin, Ethereum or Dogen and will not sell them," wrote the billionaire.

Musk repeated with analysts on Wednesday afternoon in the Tesla phone conference: "There will be bumps on the way and we will probably have a pretty difficult recession this year. I don't hope, but probably." While he warned that "one cannot predict the short-term stock value," emphasized the Tesla boss:

But in the long term, I am convinced of that, Tesla will be the most valuable company in the world.

What do you think that Tesla hops Bitcoin during the crypto winter? Let us know in the comment area below.

Kevin Helms

As a student of Austrian economics, Kevin Bitcoin discovered in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the interface between economy and cryptography.

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