Tesla Did Not Buy or Sell Any #Bitcoin in the Fourth Quarter
Electric car maker Tesla (TSLA) did not buy or sell any bitcoin in the fourth quarter for the second straight quarter, the company reported Wednesday in its latest earnings report.
The value of its digital assets was $184 million, down from $218 million at the end of the third quarter due to impairment charges from a decline in bitcoin’s price. At the end of the third quarter, the price of bitcoin was slightly under $20,000, while at the end of the fourth quarter it was around $16,500.
Tesla also made no changes to its bitcoin holdings in the third quarter, but in the second quarter, the company surprised some investors by selling $936 million worth of bitcoin, or approximately 75% of its total holdings, in order to raise cash.
A company call with analysts is scheduled for 5:30 p.m. ET (21:30 UTC).
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