What Did Tesla Do With His Bitcoins? New Balance Sheet Announced

While the steps taken by the Tesla company, owned by Elon Musk, one of the most well-known names in the world, regarding Bitcoin remained on the agenda, it was a matter of curiosity whether the company sold the Bitcoins it owned.

As it is known, according to the company’s second quarter balance sheet, Tesla did not sell the Bitcoins it owned. In the balance sheet in question, it was emphasized that there was a $ 23 million depreciation related to Bitcoin. On the other hand, it was stated that the net income of the company increased 10 times compared to 1 year ago and exceeded 1 billion dollars.

Now, the third quarter financial results of the company, which is a world-famous electric car manufacturer, have been announced. Accordingly, the Tesla company made a revenue statement of 13 billion 760 million dollars. It was stated that the net income of the company was $ 1.62 billion.

The most curious question about the company was whether it still sold the Bitcoins it held. However, it was stated that the company did not buy or sell any BTC.

Accordingly, the company continues to hold 37,500 BTC that it owns. However, according to its third-quarter earnings presentation, the company managed to achieve its best-ever net income, but reported a loss of $51 million related to Bitcoin.

However, if the company still holds the BTCs in its hands, with the newly broken record, Tesla’s loss from Bitcoin for the 3rd quarter has already turned into profit.

Tesla’s Relationship with Bitcoin

The company first made a record $ 1.5 billion purchase of Bitcoin in February, but later announced that they stopped accepting Bitcoin payments in May due to environmental concerns, and the decision in question had a great impact in the crypto community.

However, Musk, who later stated that he would buy Bitcoin again if BTC mining turned 50 percent clean energy, continued to be the topic of the agenda.

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