Tesla kept its Bitcoin holdings steady in Q3 2023, holding around 9,720 BTC worth $275.6 million.
The company faced financial challenges, with Q3 revenues falling short of expectations and profits declining by nearly 37 percent.
Tesla Inc., the electric vehicle (EV) giant led by CEO Elon Musk, has confirmed its steadfast commitment to its Bitcoin holdings in its recently released Q3 2023 financial report. Despite a challenging financial quarter, Tesla opted to maintain its Bitcoin position, holding approximately 9,720 BTC, valued at over $275 million as of September 30, 2023.
In a surprising move, Tesla revealed that it did not engage in any Bitcoin sales during the third quarter of 2023, marking the fifth consecutive quarter when the company refrained from parting with its cryptocurrency assets. The absence of Bitcoin sales in the Q3 report suggests that Tesla has remained resolute in its cryptocurrency strategy.
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