Tesla's bitcoin reserves remained unchanged in the first quarter of 2024
Technology company and electric car manufacturer Tesla has published its financial report for the first quarter of 2024. According to the document, the bitcoin reserves of Elon Musk's company have not changed.
According to the available information, 9720 BTC are stored on Tesla wallets. At the time of writing, the bitcoin exchange rate is at $66,677, according to TradingView. Thus, the electric car manufacturer's bitcoin reserves are estimated at $648 million.
Tesla has been keeping the mentioned amount of the first cryptocurrency on its balance sheet for a long period of time - since the second quarter of 2022. Since then, the company's bitcoin reserves have not changed. It is also worth noting that the manufacturer has sold more than 30,000 BTC before.
Earlier, Arkham Intelligence platform analysts discovered bitcoin wallets of Elon Musk's companies. We are talking about Tesla and SpaceX, whose addresses users can now follow.
Arkham and the manufacturer's data on the amount of the first cryptocurrency on the firm's account differ. According to analysts, 68 Tesla wallets hold 11,509 BTC worth $768 million. The difference with the company's official reports is 1,789 BTC, or $119 million.
Some users assumed that Tesla had resumed purchasing the first cryptocurrency. However, the report shows that there were no movements with bitcoin in the first quarter of 2024.
As a reminder, we wrote that bitcoin has surpassed Berkshire Hathaway and Tesla in terms of market capitalization.
