In a surprising turn, Tesla Inc. has confirmed it didn’t divest any of its $312 million Bitcoin (BTC) holdings in the third quarter of 2023.
Tesla announced, the electric vehicle giant neither sold nor purchased any Bitcoin in Q3, according to its quarterly update. This is another quarter with no Bitcoin sales for Tesla, wherein the value of its Bitcoin hoard dropped by $9 million compared to Q2 2023.
Previously, in Q2 2022, Tesla sold over 30,000 Bitcoin, or approximately 75% of its holdings, amassing $936 million. This followed their initial investment of $1.5 billion in Bitcoin in early 2021.
Tesla’s Q3 report also divulged a revenue of $23.35 billion, marginally lower than the projected $23.9 billion. The company also revealed that CYBERTRUCK pilot production has exceeded 125,000 units ahead of the planned November launch.