No sale during crypto winter – The shattering revelation of a massive purchase of bitcoins (BTC) by Tesla in February 2021 had definitely launched the latest bull run of the king of cryptos, and the whole industry for that matter. Since then, the companyElon Musk offloaded part of her BTC, but she HODL (retains) on the other hand firmly the part which remains to him.
Tesla holding on despite the disastrous 2e semester 2022 in crypto
Between the fall of stablecoin UST de Terra (LUNA), the bankruptcies of Celsius and of Three Arrows Capital (3AC), and the spectacular explosion of the empire of Sam Bankman-Fried and FTXmany broke down and sold, lower and in the panictheir precious cryptocurrencies.
It is not however not the case from the premium electric vehicle company ofElon Musk. Indeed, in an admirable anticipation – which would almost be a premonition – You’re here reduced its position in Bitcoin (and took his profits) during the second quarter of 2022… Before the disasters mentioned above start dragging the crypto market to hell.
Since that last sale, Tesla has not no longer sold a single bitcoin, despite the harsh crypto winter. This is revealed by the recent publication of its latest quarterly report, therefore relating to the 4e quarter 2022.
>> Take your first steps in the Bitcoin universe on Binance, 10% free fees (commercial link) <<
More than 10,000 bitcoins trusted by Elon Musk
At its price on December 31, 2022, Bitcoin was at near market lowstowards the $16,600. On the same date, digital asset holdings amounted to $184 million, according to the latest quarterly report. Even if the quantity of bitcoins is not explicitly indicated, it implies that Tesla would still have more than 10,000 BTC (and maybe even closer to 11,000 BTC, in fact).
A desire to HODL more than respectable. And with reason for now, since with a price going up to $23,000 by bitcoin at the time of this writing (either +38.5% since the end of December 2022), Tesla’s crypto possessions should logically be around the $250 million now (+about $66 million).
For the rest, the electric car manufacturer seems to be doing very well. Indeed, Tesla records $5.7 billion in profitsfor a total turnover of 24.3 billion dollars, in the 4e quarter of 2022. Thestock TSLA company, listed on the Nasdaq stock exchange, is also in slight increase since the results were released, to just over $144.
For his part, the boss of Tesla remained (exceptionally) quite discreet concerning Bitcoin and cryptocurrencies in recent weeks. Even though Elon Musk had dropped a “Dogecoin To The Moon” at the beginning of last December, not a single crypto tweet really booming ever since. No doubt he is still too busy with his post-takeover work on Twitter, and/or with his companies Tesla and SpaceX.
Bitcoin is tough and resilient. Tomorrow or in some time, you will be happy to have bought some during the crisis. Don’t wait too long to take advantage of the current buying conditions, and save another 10% on your trading fees by following this link! Run to register on BinanceTHE absolute benchmark for crypto exchanges (commercial link).