Tesla Holds Steady with 9,720 Bitcoin (BTC) Holdings in Q4 2023

Bitcoin Holdings Unchanged

Tesla, led by Elon Musk, maintained its stance on Bitcoin during Q4 2023, revealing in its latest report that it neither bought nor sold any of its 9,720 Bitcoin holdings, valued at $387 million. This marks the sixth consecutive quarter without any Bitcoin transactions by the electric vehicle manufacturer.

Q4 Report Overview

The Q4 report did not mention Bitcoin transactions, indicating the company's decision to hold its existing 9,720 BTC. Despite this, Tesla's stock experienced a decline in after-hours trading following the Q4 update, continuing a trend seen since the beginning of the year. In January, the stock decreased by nearly 16%, with a 3% drop last week, marking the fifth consecutive weekly decline.

Positive Vehicle Sales News

Despite the bearish trend in the stock market, Tesla reported positive news on vehicle sales. The company surpassed Wall Street delivery predictions, selling a record-setting 484,507 vehicles in Q4 2023, contributing to a total of 1.81 million vehicles sold throughout the year.

Financial Performance and Confidence

Tesla's Q4 earnings fell slightly below analyst estimates on both the top and bottom lines. Adjusted earnings per share were $0.71, just below Wall Street's estimate of $0.73. Revenue of $25.17 billion also missed expectations of $25.87 billion. Despite these figures, Tesla maintains confidence in its long-term vision.

Tesla's Bitcoin Journey

Tesla's digital asset holdings, exclusively in Bitcoin, stand at $387 million. The company, with approximately 9,720 BTC, ranks as the fourth-largest publicly traded entity with a substantial Bitcoin portfolio. Tesla entered the Bitcoin space in February 2021 with a $1.5 billion investment, acquiring around 43,000 BTC. While initially accepting Bitcoin as payment, subsequent decisions led to a reversal of this policy, with Tesla reducing its Bitcoin holdings in early 2021.

Summary:

Tesla holds firm with its 9,720 Bitcoin holdings in Q4 2023, marking the sixth consecutive quarter without Bitcoin transactions. Despite stock declines, positive news emerges from strong vehicle sales. Tesla's Bitcoin journey continues, with the company maintaining confidence in its long-term vision.

Tesla's decision to retain its Bitcoin holdings signals stability amid market fluctuations. As the company navigates financial challenges, its long-term commitment to both Bitcoin and its core vision remains evident.