Tesla, the electric car giant led by Elon Musk, has stood steadfast in its support for Bitcoin (BTC). According to their latest quarterly earnings report released this week, Tesla’s Bitcoin holdings remained untouched in the last quarter of 2023. This means the company neither bought nor sold any BTC during that period, signifying its confidence in the cryptocurrency.
Currently, Tesla holds a substantial 9,720 BTC, making it the third-largest public holder of Bitcoin. Only MicroStrategy and Marathon have larger holdings. Tesla initially ventured into the crypto world with a $1.5 billion investment in February 2021, amassing around 43,000 BTC. Moreover, Tesla had previously declared its intention to accept Bitcoin as a payment method.
The unchanged Bitcoin holdings demonstrate Tesla’s ongoing belief in the world of digital currencies, solidifying its position in the crypto market.