No Change in Bitcoin Holdings in Q1 2023 – Here’s How Much Bitcoin Tesla Holds

Source: Adobe/asiraj

Electric carmaker Tesla revealed on Wednesday that its Bitcoin (BTC) holdings will remain unchanged in the first quarter of 2023.

According to Tesla’s quarterly earnings report, the value of “Crypto assets” held on the company’s balance sheet was $184 million, unchanged from the previous quarter.

The reason for the flat value despite a sharp rise in bitcoin spot prices during the quarter is the accounting rules under which Tesla operates, which do not allow unrealized gains on such holdings to be registered.

For the quarter, Tesla reported an adjusted EPS of $0.85, in line with most analysts’ expectations.

The company’s revenue of $23.33 billion was slightly below analysts’ expectations of $23.6 billion.

BTC holdings unchanged for third straight quarter

The first quarter of 2023 marks the third consecutive quarter that Tesla has retained its Crypto assets, after the company sold about $936 million worth of bitcoin in the second quarter of 2022 to raise cash during the Covid lockdown.

Tesla has never revealed how much bitcoin it holds, only reporting the total dollar value of all its Crypto assets. However, the vast majority, if not all, of the $184 million is believed to be held in BTC.

The automaker holds around 9,720 BTC on its balance sheet, according to estimates from bitcoin firm Coinkite.

Notably, Tesla CEO Elon Musk has also stated in the past that the company also holds some Dogecoin (DOGE), although it is not known exactly how much.

Tesla never announced its purchase of DOGE, but the company is known to accept the meme coin as payment for some of the goods it sells online.


Shares of Tesla opened Thursday down nearly 8% from Wednesday’s close, but pared some of those losses in early trading on Wall Street.

Source of information: Compiled from CRYPTONEWS by 0x Information.Copyright belongs to the author, without permission, may not be reproduced

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