{"id":32564,"date":"2022-10-20T06:54:44","date_gmt":"2022-10-20T06:54:44","guid":{"rendered":"http:\/\/egrowonline.com\/?p=32564"},"modified":"2022-10-20T06:54:44","modified_gmt":"2022-10-20T06:54:44","slug":"hodl-tesla-hangs-onto-all-its-remaining-218m-in-bitcoin-in-q3","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=32564","title":{"rendered":"HODL! Tesla hangs onto all its remaining $218M in Bitcoin in Q3"},"content":{"rendered":"


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Electric vehicle manufacturer Tesla has made no further changes to its remaining stash of Bitcoin (BTC<\/a>) in the third quarter of 2022, despite nearly a $1 billion sell-off in the previous quarter. <\/p>\n

The company\u2019s Q3 report<\/a> released Oct. 19 shows $218 million worth of \u201cdigital assets\u201d remains on its balance sheet, with no reported losses in the value of its holdings. Based on current prices, it\u2019s estimated<\/a> that Tesla still holds around 9,720 BTC.<\/p>\n

In Q2 earnings report, Tesla said it sold 75% of its Bitcoin<\/a> during the quarter, adding $936 million in cash to its books and recording a $64 million profit<\/a> from the sale.<\/p>\n

Tesla CEO Elon Musk explained at the time that the sell-off was due to liquidity concerns from the COVID-19 lockdowns in China.<\/p>\n

The sell-off during the quarter took a large chunk of the company\u2019s $1.5 billion position<\/a> in Bitcoin, which it had revealed in February 2021, which at the time, made it one of the largest corporate holders of Bitcoin.<\/p>\n

Overall for Q3 2022, Tesla posted $3.3 billion in profits attaining revenues of $21.45 billion, which reportedly fell short of analysts\u2019 expectations, and saw Tesla\u2019s stock price fall by nearly 14% in after-hours trading according<\/a> to Yahoo Finance. <\/p>\n

Related: <\/em><\/strong>Binance, Sequoia still backing Elon Musk\u2019s bid for Twitter<\/em><\/strong><\/a><\/p>\n

Under Musk\u2019s leadership, the vehicle company has seen its range of merchandise available for purchase using Dogecoin<\/a> (DOGE<\/a>) since January. His rocket-building company SpaceX soon followed suit<\/a> in May.<\/p>\n

One of Tesla\u2019s recent products was a limited edition whistle<\/a> it posted for sale in September which could only be purchased using DOGE retailing for 1,000 DOGE, or around $60 at the time. It\u2019s unknown exactly how many units were made available but it reportedly sold out within hours.<\/p>\n<\/div>\n


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Electric vehicle manufacturer Tesla has made no further changes to its remaining stash of Bitcoin (BTC) in the third quarter of 2022, despite nearly a $1 billion sell-off in the previous quarter. The company\u2019s Q3 report released Oct. 19 shows $218 million worth of \u201cdigital assets\u201d remains on its balance sheet, with no reported losses […]<\/p>\n","protected":false},"author":1,"featured_media":32565,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[37],"tags":[11866,50,11865,5539,11700,585],"class_list":["post-32564","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-218m","tag-bitcoin","tag-hangs","tag-hodl","tag-remaining","tag-tesla"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/10\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTAvNGJjMDc5Y2UtZGNhYy00ZWNiLThjZGEtNjdhNjc4OGQ5ZGQ2LmpwZw.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/32564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32564"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/32564\/revisions"}],"predecessor-version":[{"id":32566,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/32564\/revisions\/32566"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/32565"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32564"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}