Tesla Made No Changes to Bitcoin Holdings in First Quarter
Featured SpeakerAlex Thorn
Head of Firmwide ResearchGalaxy
Hear Alex Thorn share his take on “Bitcoin and Inflation: It’s Complicated” at Consensus 2023.
:format(jpg)/s3.amazonaws.com/arc-authors/coindesk/86c43cde-6640-4a7c-98af-5e25273f0e17.png)
Stephen Alpher is CoinDesk’s co-regional news chief, Americas. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
Featured SpeakerAlex Thorn
Head of Firmwide ResearchGalaxy
Hear Alex Thorn share his take on “Bitcoin and Inflation: It’s Complicated” at Consensus 2023.
Electric car maker Tesla (TSLA) did not buy or sell any bitcoin in the first quarter of 2023, the company reported in its earnings release Wednesday afternoon.
The value of digital assets held by Elon Musk’s company at quarter’s end was $184 million, flat from the fourth quarter of 2022. The valuation remained flat even as bitcoin (BTC) rose to about $28,500 at the end of the first quarter from $16,500 three months earlier, as current accounting rules don’t allow such gains to be booked.
Tesla made no changes to the amount of bitcoin it held for the third consecutive quarter.
For the first quarter, Tesla reported adjusted earnings per share (EPS) of 85 cents versus the consensus analyst estimate of 85 cents, according to FactSet. Revenue of $23.33 billion was less than the $23.6 billion expected.
Shares are down 4.2% in after-hours action.
DISCLOSURE
Please note that our
privacy policy,
terms of use,
cookies,
and
do not sell my personal information
has been updated
.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
strict set of editorial policies.
CoinDesk is an independent operating subsidiary of
Digital Currency Group,
which invests in
cryptocurrencies
and blockchain
startups.
As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of
stock appreciation rights,
which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG
.
Stephen Alpher is CoinDesk’s co-regional news chief, Americas. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.
Stephen Alpher is CoinDesk’s co-regional news chief, Americas. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
