Tesla reported no changes to its digital asset holdings during its Q2 2023 investor report, as seen on its shareholder platform on July 19.
That document indicates that Tesla had $184 million in digital assets on June 30, the same amount it had at the end of March 2023 and December 2022.
Tesla’s last significant change in digital asset holdings occurred in the last quarter of 2022 when its holdings dropped from $218 million to $184 million. Prior to that, in July 2022, the firm said it sold a portion of its Bitcoin for $936 million; that sale amounted to about three-quarters of the Bitcoin the company originally bought in early 2021.
Despite the company’s stalled Bitcoin holdings, public interest remains high in Tesla’s cryptocurrency policy. In the company’s Q&A submission form, several investors asked if Tesla plans to accept purchases of Bitcoin, a payment method that CEO Elon Musk has vowed to re-enable if Bitcoin mining becomes 50% dependent on renewable energy. It’s unclear if Musk or other executives answered those questions during the earnings call.
Tesla Posted Record Second Quarter Revenue
Aside from the company’s lack of change in Bitcoin holdings, Tesla’s latest report is notable as the company reported record $25 billion in Q2 revenue. The company also highlighted its work on AI, including its Dojo training computers, in its report.
Despite those positive developments, Tesla shares were down 0.71% today and were down 4.90% after hours. CNBC reports suggest prices fell because Musk and other executives did not provide specifications and dates for upcoming vehicles and said manufacturing output would decline in the third quarter amid upgrades and factory closures.
The news also comes shortly after Senator Elizabeth Warren called on US regulators to launch an investigation into potential conflicts of interest between Tesla and Twitter, the latter of which was acquired by Musk in October 2022.
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