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Here's What Happened to Tesla's Bitcoin Holdings in Third Quarter

Wed, 10/19/2022 - 20:19
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Alex Dovbnya
Tesla has reported its disappointing Q3 results
Here's What Happened to Tesla's Bitcoin Holdings in Third Quarter
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E-car manufacturer Tesla has reported that its Bitcoin holding had remained unchanged throughout the third quarter.

As reported by U.Today, the company sold 75% of its cryptocurrency holdings in the second quarter. The value of its digital assets was cut to $218 million.   

Tesla initially purchased $1.5 billion worth of Bitcoin in February 2021, propping up the value of the largest cryptocurrency.

The company didn't rule out increasing its exposure to Bitcoin in the future despite selling the vast majority of its holdings.     

Tesla missed Wall Street revenue estimates, generating an underwhelming $21.45 billion worth of revenue. The Street was looking for $21.96 billion.        

The shares of the e-car maker are now down more than 5% due to the disappointing revenue miss after rebounding earlier this week together with the rest of the U.S. stock market.  

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at