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Tesla’s adherence to its Bitcoin investment strategy remains unaltered, as detailed in its recent quarterly report. The electric vehicle giant holds approximately 9,720 Bitcoins, valued at $640 million, continuing a no-sale streak for the eighth consecutive quarter. This strategic decision underscores a commitment to cryptocurrency, following their initial $1.5 billion Bitcoin investment in 2021.
The company’s financial performance this quarter has surpassed expectations, with revenues hitting $25.5 billion against a forecast of $24.63 billion. Despite a dip in automotive sales leading to an 8% stock decrease in extended trading, Tesla reported a strong net profit of $1.5 billion and a robust free cash flow of $1.34 billion.
This financial resilience, coupled with Tesla’s steady crypto holdings, signals a broader acceptance and potential stability in the cryptocurrency market, reflecting a growing confidence among major corporate players in the viability of digital assets.
