Tesla Made No Changes to Bitcoin Holdings in First Quarter
Electric car maker Tesla (TSLA) did not buy or sell any bitcoin in the 1st quarter of 2023, the company reported in its earnings report Wednesday afternoon.
The value of digital assets held by Tesla at quarter’s end was $184 million, flat from 2022 Q4. The valuation remained flat even as bitcoin (BTC) rose to about $28,500 at the end of Q1 from $16,500 three months earlier, as current accounting rules don’t allow such gains to be booked.
Tesla made no changes to the amount of bitcoin it held for the third consecutive quarter.
For the first quarter, Tesla reported adjusted earnings per share (EPS) of $0.85, a penny shy of estimates for $0.86. Revenue of $23.33 billion was less than estimates for $23.37 billion.
Shares are down 4.2% in after hours action.
