The automaker’s latest earnings report for Q3 shows that it has made no change to its bitcoin holdings since its big selloff in Q2.

Electric vehicle maker Tesla has made no further changes to its remaining bitcoin holdings
BTC

to mark
$20,715

in the third quarter of 2022, despite a nearly $1 billion liquidation in the previous quarter.

The company’s third quarter report, published on October 19, shows $218 million in “digital assets” remaining on its balance sheet, with no reported losses in the value of its holdings. Based on current prices, Tesla is estimated to still have around 9720 BTC.

In its second quarter earnings report, Tesla said it sold 75% of its bitcoin during the quarter, adding $936 million in cash to its books and recording a $64 million profit on the sale.

Tesla CEO Elon Musk explained at the time that the liquidation was due to liquidity concerns over COVID-19 lockdowns in China.

The liquidation during the quarter took away a large part of the company’s $1.5 billion position in bitcoin, which it had disclosed at the time in February 2021, making it one of the largest corporate owners of bitcoin.

Overall, for the third quarter of 2022, Tesla posted $3.3 billion in profit, beat revenue of $21.45 billion, which according to analysts missed expectations and saw Tesla’s stock price drop by almost a year. 14% in after-hours trading, according to Yahoo Finance.

Related: Binance and Sequoia Still Back Elon Musk’s Twitter Offer

Under Musk’s leadership, the car company has seen its range of products that can be purchased with Dogecoin.
DOGE

to mark
for 0.12 US dollars

since January. His rocket company SpaceX soon followed suit in May.

One of Tesla’s recent products was a limited edition whistle that went on sale in September, which could only be purchased through DOGE Retail for 1,000 DOGE, or about $60 at the time. Exactly how many units were made available is unknown, but they reportedly sold out within hours.

Source: CoinTelegraph

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