Maybe when whales and Terra ‘scrambled’ Bitcoin (BTC) when the price was cheap, Tesla was an exception to that group.
In the latest report, bitcoin owned by Elon Musk -owned company remained worth $ 1.26 billion, unchanged since the second quarter (Q2) of 2021.
It is understood for the first quarter (Q1) of 2022 and the fourth quarter (Q4) of 2021, there were no purchases or sales made by Tesla.
At the same time, the company’s bitcoin ownership did not record a depreciation as the price of the asset did not change from the end of the previous quarter to the next.
Timeline of Bitcoin (BTC) ownership by Tesla
February 2021 - Tesla has invested in bitcoin worth $ 1.5 billion.
April 2021 - The company sells 10% of the bitcoin it owns, bringing in a net return of $ 272 million.
May 2021 - Tesla is determined to stop accepting bitcoin as a payment medium following up on environmental issues related to the crypto mining.
October 2021 - Tesla announces the re -acceptance of bitcoin. At the time Tesla owned around 43,200 BTC worth $ 2.7 billion, becoming the second largest corporate investor after MicroStrategy (114,000 BTC).
January 2022 - No purchases made.
Now - There is still no increase in bitcoin in Tesla's current holdings but MicroStrategy is getting ‘rich’ bitcoin with 129,218 BTC ownership as of April (current value: $ 5.4 billion)
For information, in the third quarter (Q3) 2021 Tesla was demanded to pay impairment charges worth $ 51 million following the decline in the price of bitcoin.
A company is required to report losses incurred as long as they own digital assets for a particular quarter.
Maybe after this if the crypto market changes due to whales, know already Tesla is not one of them.
