Electric car manufacturer Tesla reported its financial results for the fourth quarter of 2023 on January 24th. According to the report, the company’s Bitcoin (BTC) holdings remained unchanged from the previous quarter.

Bitcoin is not mentioned in the quarterly report, suggesting that the company has not bought or sold any Bitcoin in the past three months. The assets held are valued at 387 million dollars (approximately 58 billion yen, equivalent to 1 dollar = 150 yen) at current prices.

According to data from Bitcoin Treasuries, Tesla holds over 9,720 BTC, making it the third-largest holder after software company MicroStrategy and mining operator Marathon.

Tesla, led by Elon Musk, invested $1.5 billion (approximately 225 billion yen) in Bitcoin in February 2021, accumulating approximately 43,000 BTC. That same month, Tesla announced it would start accepting Bitcoin as a payment method.

However, it began selling its assets in the second half of the year to maximize its cash holdings amid uncertainty related to the coronavirus lockdown. In the second quarter of 2022, it reported selling 75% of its Bitcoin holdings.

｜Translation: CoinDesk JAPAN
｜Edited by: Toshihiko Inoue
｜Image: Shutterstock
｜Original text: Tesla’s Bitcoin Holdings Remain Unchanged in Q4