Tesla is among the largest holders of bitcoin. In February 2021, the American electric car maker announced that it had invested $1.5 billion in BTC.
However, already last year, Elon Musk’s company realized the lion’s share of the cryptocurrency (75%). At the same time, Tesla has not sold bitcoins since mid-2022.
As of the end of the third quarter of 2023, 9,720 BTC were deposited in wallets affiliated with the company. The total value of this cryptocurrency is $275.4 million.
In addition to Tesla, large holders of BTC include MicroStrategy, Coinbase, Block and leading miners including Marathon, Riot and Hive.
Bitcoin has not reacted in any way to the information about Tesla’s reserves. It is still trading below $29,000.
Volatility has eased after the digital currency’s short-term spurt above $30,000 earlier this week.