Tesla, the electric vehicle manufacturer, held onto its Bitcoin during Q4 of 2022, despite market turbulence and the collapse of FTX.
According to its Q4 results report, Tesla did not buy or sell any of its Bitcoin for the second quarter in a row.
The company holds $184 million in digital assets as of December 31st, down from $218 million in the previous quarter, due to $34 million of impairment charges as the price of Bitcoin declined between the end of September and December.
Tesla also held onto its Bitcoin through Q3 of 2021 after selling 75% of its holdings in Q2, which added $936 million in cash to its books and generated a profit of $64 million.
The company’s CEO, Elon Musk, had previously explained that the sale was to “prove liquidity of Bitcoin as an alternative to holding cash on a balance sheet.”
