PANews reported on January 29th that, according to CoinDesk, Tesla's fourth-quarter earnings report showed that its Bitcoin holdings remained unchanged at 11,509PANews reported on January 29th that, according to CoinDesk, Tesla's fourth-quarter earnings report showed that its Bitcoin holdings remained unchanged at 11,509
Tesla's Bitcoin holdings remained unchanged in the fourth quarter, but it recorded a $239 million impairment loss on digital assets.
News Brief
PANews reported on January 29th that Tesla's fourth-quarter results revealed its Bitcoin position remained unchanged at 11,509 coins. With Bitcoin plummeting from approximately $114,000 to $88,000 during the final quarter of last year, the company absorbed an after-tax impairment hit of roughly $239 million on its digital asset portfolio. Tesla's quarterly revenue reached $24.90 billion—falling slightly short of the anticipated $25.10 billion. However, adjusted earnings per share landed at $0.50, surpassing the $0.45 projection. The company initially disclosed ownership of 43,200 bitcoins in February 2021, subsequently liquidating about 75% during the 2022 bear market downturn. Since that strategic move, analysts believe the holdings have remained relatively stable, currently valued at approximately $1 billion based on Bitcoin's $89,000 price point.
PANews reported on January 29th that, according to CoinDesk, Tesla's fourth-quarter earnings report showed that its Bitcoin holdings remained unchanged at 11,509. Due to the decline in Bitcoin's price from approximately $114,000 to $88,000 in the last three months of last year, the company recorded an after-tax impairment loss of approximately $239 million on digital assets. The company's fourth-quarter revenue was $24.9 billion, slightly below the expected $25.1 billion; adjusted earnings per share were $0.50, exceeding the expected $0.45.
Tesla first disclosed holding 43,200 bitcoins in February 2021, and subsequently sold approximately 75% of its holdings near the bottom of the 2022 bear market. Its bitcoin holdings have remained relatively stable since then. The current holdings are worth approximately $1 billion (based on the current bitcoin price of $89,000).
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