Tesla holds $367 million worth of Bitcoin

The company owned by Elon Musk sold part of its cryptocurrencies during the pandemic. However, he still holds $367 million worth of Bitcoin

The Tesla company, owned by tycoon Elon Musk and focused on manufacturing electric cars, maintains $367 million in Bitcoin.

Despite having sold a good amount of its cryptocurrencies during the pandemic, Tesla is holding on to this juicy amount of Bitcoins, which by the way was not mentioned in its most recent quarterly earnings report.

Musk’s company is currently focused on electric cars and artificial intelligence at the service of its products.

According to Bitcoin Treasuries, an aggregator that tracks well-known BTC wallets in the business world, “the electric carmaker’s cryptocurrency assets are worth approximately $387 million at current prices, with more than 9,720 BTC in its possession.” ”.

In the ranking of companies holding BTC, the first place goes to MicroStrategy, with 89,150 BTC in holdings valued at $8.1 billion. Marathon Holdings and Tesla are in second and third place, respectively.

Although Tesla’s latest earnings report (released Wednesday) reflected a 14 % drop in shares because of weak automotive revenue and warnings of slower growth in 2024, the company expects to achieve growth with the launch of its “next generation” model in Texas this year.


Source: Decrypt

(Reference image source: Alexander Shatov, Unsplash)

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