Tesla reports $64M profit from Bitcoin sale
Elon Musk’s electric vehicle company sold 75% of its BTC in the second quarter. The company’s overall profitability was impacted by inflation and the competition for battery cells. Tesla’s decision to offload most of its Bitcoin (BTC) treasuries netted the company a hefty profit in the second quarter, even as crypto prices plunged into a bear market.In the first six months of 2022, Tesla recorded $170 million of impairment losses “resulting from changes to the carrying value” of its Bitcoin holdings, according to an official Form 10-Q filing with the United States Securities and Exchange....
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Tesla's foray into Bitcoin may have been one big distraction for the electric vehicle maker, which reported mixed financial results earlier this month. Elon Musk’s Tesla proved to be the ultimate paper hands after the electric vehicle maker sold 75% of its Bitcoin (BTC) holdings in the second quarter. I say, good riddance. The cult of personality isn’t good for Bitcoin, and neither is a technologist who treats the asset as his plaything. As far as we are aware, Musk hasn’t sold any of his personal Bitcoin stash and Tesla still has an estimated 10,800 BTC on its books. Still, the less we....
Tesla's Bitcoin stash is now worth $1 billion more than when Elon Musk approved the purchase in February. Tesla's (TSLA) bold foray into the Bitcoin (BTC) market has been paying off in 2021 as BTC price rallies in October to hit over $58,000 on Oct.14.Tesla currently holds roughly 43,200 BTC, worth roughly $2.5 billion at today's prices, according to online monitoring resource Bitcointreasuries.net. This is approximately 65% or $1 billion more than what the carmaker paid in February when Elon Musk's company revealed that it added $1.5 billion in BTC to its balance sheet.BTC/USD daily price....
Tesla’s unrealized profit from “hodling” Bitcoin could be the equivalent of upscaling the company’s daily car sales by over 860%. It has been 37 days since Tesla announced its $1.5 billion Bitcoin (BTC) purchase in a filing document with the United States Securities and Exchange Commission.While the exact BTC purchase size was not revealed in the document, with Bitcoin trading between $29,000 and $37,000 in January, Tesla’s $1.5 billion outlay could mean the company holds at least 40,000 BTC.Based on these speculative figures and the Bitcoin price increase since the end of January, Tesla’s....
Despite taking a reported $272 million in profit, Tesla still seemingly retains a majority of its original bitcoin stack.
Tesla booked an $80 million gain on its bitcoin holdings in the third quarter of 2025, a move that lifted the value of its crypto stash but did not change the company’s cash from selling the coins. According to reports, the firm still held 11,509 BTC at the end of the quarter, which was valued […]