Electric vehicle manufacturer Tesla retained its position as the third-largest public holder of Bitcoin, with no alterations to its holdings. This status places Tesla behind MicroStrategy and Marathon as significant cryptocurrency owners.
According to the company’s latest report released on January 25th, Tesla has neither bought nor sold any bitcoin over the past three months. For the past six quarters in a row, Tesla has kept its bitcoin stash unchanged. The company holds about 9,720 BTC without any changes.
The report did not mention any activity in Bitcoin. Despite recent volatility in the cryptocurrency market, the company plans to keep holding onto its current Bitcoin holdings, with CEO Elon Musk’s strong belief in the long-term value of Bitcoin.
Tesla initially invested $1.5 billion in Bitcoin in February 2021, receiving around 43,000 BTC. The company also briefly accepted the cryptocurrency as a payment option before suspending this service.
In Q2 2022, Tesla sold off 75% of its Bitcoin store to boost its cash reserves. The company has since held its remaining holdings firm for six straight quarters.
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