header banner
Default

In Q3 of 2023, Tesla did not sell any of its $312,000,000 worth of Bitcoin


Table of Contents

    Tesla, one of the leading automotive and clean energy companies owned by Elon Musk, announced today that none of their $312,000,000 Bitcoin (BTC) was sold in Q3 2023. The company did not buy or sell any of its Bitcoin, according to its Q3 update.

    JUST IN: Tesla reveals none of their $312,000,000 #Bitcoin was sold in Q3 2023.

    — Watcher.Guru (@WatcherGuru) October 18, 2023

    It’s another quarter of no sales for Tesla’s Bitcoin pile, which went down $9,000,000 compared to Q2 of this year. Tesla hasn’t bought or sold any Bitcoin since last year’s second quarter. In Q2 2022, it sold more than 30,000 bitcoin, roughly 75% of its holdings, for $936 million. The company initially bought $1.5 billion worth of Bitcoin in early 2021.

    Tesla Stock is down 4.78% today after market closing, with a value of $242.68 per share. In addition to Tesla’s Q3 Bitcoin holdings, the company also shared that it had a revenue of $23.35 billion. This is down from the estimated $23.9 billion from projections. Tesla also says that CYBERTRUCK pilot production is already at over 125,000 units ahead of the planned November product launch.

    Elon Musk's Tesla announced today that none of their $312,000,000 Bitcoin (BTC) was sold in Q3 2023, the fifth quarter in a row.
    Elon Musk’s Tesla announced today that none of their $312,000,000 Bitcoin (BTC) was sold in Q3 2023, the fifth quarter in a row. Photo courtesy of Electrek

    Tesla reported adjusted earnings of 66 cents per share versus 73 cents expected. In a shareholder presentation, the company also says “Our cost of goods sold per vehicle decreased to ~$37,500 in Q3.”

    Sources


    Article information

    Author: Kelly Stout

    Last Updated: 1698177963

    Views: 682

    Rating: 4.8 / 5 (69 voted)

    Reviews: 99% of readers found this page helpful

    Author information

    Name: Kelly Stout

    Birthday: 1982-11-02

    Address: 521 Jennings Course, Lake Kimland, MD 21095

    Phone: +4654646825948825

    Job: Physical Therapist

    Hobby: Meditation, Lock Picking, Writing, Role-Playing Games, Coin Collecting, Beer Brewing, Motorcycling

    Introduction: My name is Kelly Stout, I am a unswerving, unguarded, rare, capable, enterprising, tenacious, audacious person who loves writing and wants to share my knowledge and understanding with you.