Tesla Holds $184 Million in Bitcoin: Latest Financials Reveal Significant Digital Asset Investments
Elon Musk's electric car firm, Tesla, has kept its bitcoin holdings. The company's first-quarter balance sheet displays net digital assets
Elon Musk’s Tesla continues to retain its Bitcoin investments, with its first-quarter financial reports showing $184 million in net digital assets, a figure that has remained stable since the end of 2022. Tesla’s portfolio includes 11,509 bitcoins, valued at over $745 million, according to cryptocurrency analytics firm Arkham.
Tesla’s Cryptocurrency Strategy
Tesla has focused its cryptocurrency holdings predominantly on Bitcoin, initially investing $1.5 billion in early 2021. Despite selling 75% of its Bitcoin holdings in mid-2022 due to liquidity needs during COVID-19 shutdowns in China, Musk has indicated that Tesla is “certainly open” to expanding its Bitcoin investments again.
Other Investments and Musk’s View on Cryptocurrencies
Alongside Tesla, Musk’s other venture, SpaceX, also holds a significant amount of Bitcoin. Musk personally owns Bitcoin, ether, and “a bunch of” dogecoins. Despite these investments, Musk maintains that he does not spend much time focusing on cryptocurrencies and has stated that his companies will not venture into launching their own cryptocurrency tokens.
According to Arkham’s on-chain research, Tesla holds 11,509 BTC distributed across 68 addresses. As of this writing, the bitcoin price is $64,735, implying that Tesla’s bitcoin holdings are currently worth more than $745 million.
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