15 Feb 2025

light mode

Tesla did not sell its bitcoins

Tesla did not sell its bitcoins

Tesla’s financial report for the first quarter of 2022 confirmed that Elon Musk’s company has retained its digital assets (consider “bitcoins”) at the same level.

The company purchased about 43,200 BTC tokens worth $1.5 billion in 2021. Over the next 4 quarters, the company did not add or sell its cryptocurrency. The dollar value of bitcoins owned by Tesla also changed slightly.

Some floating loss of this investment resulted from the current correction of the crypto market. Despite this, bitcoin can be considered as a good long-term risk diversification method for Tesla.

At the same time, Elon admitted that such an investment of money is eccentric and “risky” for a company that is one of the leaders in the S&P500 industrial index. But he couldn’t resist mocking the fiat economy, writing that “having some bitcoin is a slightly less stupid form of liquidity than cash”:

For Elon Musk, the last year looks like a solid showtime: the period of losses for his car company has long since passed, it’s showing excellent results for investors in quarterly reports, and the billionaire himself is a candidate for the status of the first person in history with a trillion-dollar net worth.

Also, Musk objectively remains one of the most influential figures for the crypto industry. At the time, it was the purchase of bitcoins on the official Tesla balance that became the trigger for the rise in price of the world’s main cryptocurrency by more than $10,000. Musk was also involved in the subsequent recession, in relation to his words about the too large “carbon footprint” of bitcoin mining, which allegedly did not allow Tesla to accept BTC as a means of payment.

At the peak of the market price (about $58,000 for Bitcoin), Tesla showed no willingness to take profits, so today investors should hardly worry about the risks of Musk’s sell-off, when the price of bitcoin is almost $20,000 lower.

The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.

Articles by this author
AI Is Making Crypto Scams Smarter—Insights from Chainalysis 2024

AI Is Making Crypto Scams Smarter—Insights from Chainalysis 2024

The 2024 Chainalysis report confirms that AI-driven fraud is on the rise, with crypto scammers cashing in at least $9.9 billion through advanced deception tactics.

The Coinomist
North Korean Hackers Infiltrate GitHub & NPM to Steal Crypto

North Korean Hackers Infiltrate GitHub & NPM to Steal Crypto

Lazarus Group, a North Korean hacking unit responsible for numerous cyber attacks, has launched a new campaign targeting software developers and crypto wallets.

Anahit Avetisyan
Solana Outpaces Rivals as App Revenues Surge in Crypto Revival

Solana Outpaces Rivals as App Revenues Surge in Crypto Revival

Messari reports that Solana-based apps saw an unbelievable 213% revenue spike, making Solana the top blockchain for app-generated earnings.

Anton Kryshtal
HashFlare Founders Admit to $575M Crypto Fraud Scheme

HashFlare Founders Admit to $575M Crypto Fraud Scheme

A long-anticipated court hearing in the U.S. has concluded with HashFlare co-founders Sergei Potapenko and Ivan Turogin admitting to charges of wire fraud.

The Coinomist
Weekly Analysis of BTC, ETH, and the Stock Market (Feb 10, 2025)

Weekly Analysis of BTC, ETH, and the Stock Market (Feb 10, 2025)

An overview of BTC, ETH, XAUT, and S&P500 charts, and the current cryptocurrency market dynamics.

Artem Khomenko
Weekly Analysis of BTC, ETH, and the Stock Market (Feb 3, 2025)

Weekly Analysis of BTC, ETH, and the Stock Market (Feb 3, 2025)

An overview of BTC, ETH, XAUT, and S&P500 charts, and the current cryptocurrency market dynamics.

Artem Khomenko
Weekly Analysis of BTC, ETH, and the Stock Market (Jan 27, 2025)

Weekly Analysis of BTC, ETH, and the Stock Market (Jan 27, 2025)

An overview of BTC, ETH, XAUT, and S&P500 charts, and the current cryptocurrency market dynamics.

Artem Khomenko
How to Bump a Transaction in the Bitcoin Network

How to Bump a Transaction in the Bitcoin Network

Sometimes, Bitcoin transactions can get “stuck,” especially if a low fee was set. In such cases, you might wonder: Why is my Bitcoin transaction stuck?

bitOn
Inside Cryptocurrency Farms: How Digital Coins Are Mined

Inside Cryptocurrency Farms: How Digital Coins Are Mined

Cryptocurrency farms and mining have evolved significantly since Bitcoin launched in 2009. To understand their growth, it helps to look at the broader history of resource extraction.

The Coinomist
From Bulls to Ballers — Why Celebrities Are Flocking to Crypto

From Bulls to Ballers — Why Celebrities Are Flocking to Crypto

Trump’s meme coin isn’t an outlier—it’s part of a broader trend. Back in 2021, celebrities were minting NFTs, and by 2024, they had moved on to personal token launches. The connection between fame and crypto has been growing for years, even if many failed to see it.

Vlad Vovk
Which Macroeconomic Factors Make Crypto Rise or Fall? 

Which Macroeconomic Factors Make Crypto Rise or Fall? 

It happens when you check the market and crypto prices are up or down for no obvious reason. Then you do some research and find out that there are actually reasons outside the crypto space.

Anahit Avetisyan
How Blockchain Helps Combat Disinformation

How Blockchain Helps Combat Disinformation

Fake news has become a global issue, shaping public opinion, fueling social tensions, and even influencing political decisions. With the rise of social media, the spread of misinformation has accelerated, making it increasingly difficult to regulate. However, blockchain technology offers a promising solution in the fight against fake news.

Daryna Nesterenko
Trading Psychology: How to Avoid Falling Victim to Your Own Biases

Trading Psychology: How to Avoid Falling Victim to Your Own Biases

The most successful traders aren’t always the smartest. More often, those who excel are the ones who understand psychological traps, manage their emotions, and maintain rationality under pressure.

Vlad Vovk
SBF’s Prosecutor Quits – What It Means for Crypto Crime

SBF’s Prosecutor Quits – What It Means for Crypto Crime

Danielle Sassoon, Acting U.S. Attorney for the Southern District of New York, has resigned, making headlines this week. And you’ve definitely heard of one of her biggest “client” names.

Anahit Avetisyan
Trump’s Crypto Summits: Pragmatic Move or Regulatory Mess?

Trump’s Crypto Summits: Pragmatic Move or Regulatory Mess?

What’s the best way to figure out how the crypto industry needs to be regulated in the U.S.? Donald Trump is considering different options.

Anahit Avetisyan
MORE
«Mass Adoption Isn’t About Tech – It’s About Perception». Bitmedia Founder Matvii Diadkov – About RWA, Web3, And Marketing

«Mass Adoption Isn’t About Tech – It’s About Perception». Bitmedia Founder Matvii Diadkov – About RWA, Web3, And Marketing

Matvii Diadkov, founder of Bitmedia, shared with us in an exclusive interview his expert insights on Web3 adoption, impact of GameFi and community-centering tendencies in the market.

The Coinomist
“Satoshi is CIA”: Swedish crypto bro opens up about his Bitcoin journey

“Satoshi is CIA”: Swedish crypto bro opens up about his Bitcoin journey

The first crypto craze took place almost a decade ago. Overnight, many people found out about Bitcoin and its underlying technology, blockchain.

Lesia Dubenko
MORE