Tesla Q4 2022 Balance Sheet: $184M in Bitcoin, No Digital Asset Sales

• Tesla’s Q4 2022 balance sheet shows the company’s bitcoin holdings worth $184 million.
• Tesla did not sell any digital assets in the fourth quarter despite the crypto winter and contagion in the crypto ecosystem.
• Tesla’s digital assets comprise mostly of bitcoin, with a small amount of dogecoin (DOGE).

Tesla Inc. (Nasdaq: TSLA) recently released its earnings results for Q4 2022, which showed the company’s digital assets valued at $184 million. The electric car company’s balance sheet revealed its bitcoin holdings worth $184 million, down from $218 million in the previous quarter. No digital assets were bought or sold during the fourth quarter, despite the crypto winter and contagion in the crypto ecosystem.

Tesla’s digital assets comprise mostly of bitcoin, with a small amount of dogecoin (DOGE). The reduced value of its crypto holdings is due to fluctuations in the price of BTC, which led to an impairment charge of $34 million. At the time of writing, bitcoin is trading at $23,087; it fell from about $47.8K to around $16.6K during 2022. Tesla has not revealed how many bitcoin it owns but an industry estimate suggests that it is hodling about 9,720 BTC.

Tesla bought $1.5 billion worth of BTC in early 2021 and has not purchased any more since. However, the company dumped about 75% of its BTC holdings in the second quarter of last year. CEO Elon Musk explained at the time that Tesla sold its BTC in order to maximize its cash position due to the uncertainty as to „when the Covid lockdowns in China would alleviate.“

Besides bitcoin, Tesla also holds a small amount of dogecoin (DOGE) which it acquired from selling some merchandise for the meme cryptocurrency. The company began accepting payments in dogecoin for some merchandise in January last year.

Tesla’s Q4 2022 balance sheet shows the company’s digital assets comprising mostly of bitcoin, with a small amount of dogecoin. Despite the crypto winter and contagion in the crypto ecosystem, Tesla did not sell any digital assets in the fourth quarter of 2022 and its bitcoin holdings remain worth $184 million.

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