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Electric vehicle giant Tesla faces a financial slowdown, reporting a 15% dip in revenue and a nearly 50% plunge in adjusted earnings for the first quarter of 2024. This comes alongside the company’s first negative cash flow since early 2020. However, in a surprising move, Tesla has held onto its entire Bitcoin portfolio, signaling a potential shift in its cryptocurrency strategy.
Tesla’s Bitcoin Stance: From Selling Spree To HODLing
Previously, Tesla had a more fluid relationship with Bitcoin. In 2022, the company made headlines by selling off 75% of its holdings. This move coincided with a period of market volatility for Bitcoin.
Q1 Earnings Call starting in ~10 mins https://t.co/NSPNDuqW5D
— Tesla (@Tesla) April 23, 2024

However, Tesla’s recent decision to forgo further sales suggests a change of heart. Industry analysts believe Tesla might be embracing a long-term “HODLing” strategy, a popular term in the cryptocurrency community referring to holding onto d

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