Electric vehicle manufacturer Tesla has made no further changes to its remaining Bitcoin (BTC) holdings in Q3 2022, despite a nearly $1 billion sell-off in the previous quarter.

The company’s third-quarter report, released Oct. 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 the 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 sell-off during the quarter took a big chunk out of the company’s $1.5 billion position in Bitcoin, which it had disclosed in February 2021, making it one of the largest corporate holders of Bitcoin at the time.

Overall, for the third quarter of 2022, Tesla posted $3.3 billion in profit, hitting revenue of $21.45 billion, which reportedly missed analyst expectations, and saw the price of Tesla shares down almost 14% in after-hours trading according to Yahoo Finance.

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

Under Musk’s leadership, the vehicle company has seen its range of products available to purchase using Dogecoin (DOGE) since January. His rocket-building company, SpaceX, soon followed suit in May.

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

This post HODL! Tesla Holds On to All of Its Remaining $218 Million in Bitcoin in Q3

was published first on https://cointelegraph.com/news/hodl-tesla-hangs-onto-all-its-remaining-218m-in-bitcoin-in-q3


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