Tesla Holds Bitcoin Holdings Steady in Q1 2023

Tesla Holds Bitcoin Holdings Steady in Q1 2023



Tesla has not made any changes to its Bitcoin holdings in Q1, keeping 11,950 BTC, which is equivalent to approximately $345 million. This marks the third consecutive quarter, when the company has not bought or sold any BTC.



In Q2 2022, Tesla sold 75% of its BTC holdings, worth $936 million, to meet unexpected expenses resulting from record production costs in China due to the COVID-19 lockdowns. However, Musk clarified that he did not sell his crypto holdings, which included Ethereum and Dogecoin.



Tesla made headlines in early 2021 by purchasing $1.5 billion worth of BTC and accepting BTC payments for its vehicles, but later suspended this payment method because of environmental concerns. Musk indicated that a company could resume accepting BTC payments once there is evidence that at least 50% of Bitcoin mining is powered by


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