Tesla Confirms: No Bitcoin Sold in Q1 2024 – Holding Steady at $711 Million
The electric car giant Tesla revealed that it didn’t sell any bitcoin in the first quarter of this year, maintaining its holdings of 9,720 BTC valued at around $711 million. Electric automobile manufacturer Tesla says it did not sell a single Bitcoin (BTC) from its large holdings in the first quarter of this year. JUST IN: Tesla $TSLA reveals none of their $711,050,000 worth of Bitcoin was sold in Q1 2024, confirmed by Watcher.Guru (@WatcherGuru).
Tesla's Bitcoin Strategy: Holding Firm
According to its Q1 update, Tesla did not engage in either the sales or acquisition of any Bitcoin. This makes it seven consecutive quarters of no sales for the company’s BTC holdings. The data showed that it held Bitcoin worth US$711 million and had not made any purchases or sales in the past quarter. This is the seventh consecutive quarter that Tesla has not sold Bitcoin. Electric car maker Tesla, throughout the first quarter of this year, did not sell a single Bitcoin (BTC) out of its substantial holdings.
Bitcoin ATH Pushed Tesla's Profit Margin
Tesla's decision to hold onto its Bitcoin, despite market fluctuations, suggests a long-term belief in the cryptocurrency. Following a successful sale of 75% of its bitcoin previously, this continued holding pattern is noteworthy. Tesla reported holding $951 million in cryptocurrency as of a previous period, down from $1.076 billion. However, the key takeaway is that American electric manufacturing company, Tesla Inc, disclosed that none of its 9,720 Bitcoin holdings were liquidated in Q1 2024. Tesla made no additional Bitcoin purchases or sales.