Tesla’s Bitcoin holdings Remained unchanged in the First Quarter

For the past four quarters, the electric carmaker hasn’t acquired or sold any of the bitcoin on its balance sheet. For the second quarter in a row, the value of Tesla’s (TSLA) bitcoin holdings stayed steady at $1.26 billion. Tesla Didn’t Buy or Sell Any Bitcoin in Last Year’s Fourth Quarter Tesla did not buy or sell bitcoin (BTC) in the first quarter of last year’s fourth quarter, nor did it report any impairments to the value of its assets. Because the price of bitcoin was practically flat from the end of the previous quarter to the succeeding one. Tesla neither added to nor reduced its bitcoin holdings in the third quarter of last year but was compelled to disclose a $51 million impairment to reflect the cryptocurrency’s price decline. In February, Tesla stated that it had purchased $1.5 billion in bitcoin. Later in the first quarter, the Corporation reduced its bitcoin holdings by 10%, boosting earnings by $272 million. Tesla made no bitcoin purchases or sales in the second quarter. According to FactSet, Tesla’s adjusted Q1 earnings per share came in at $3.22, compared to the $2.26 projected by analysts. Revenue was $18.8 billion, compared to $17.85 billion forecasts. In after-hours trading on Wednesday, Tesla’s stock rose 3.6 percent to $1,012.01. Since the beginning of the year, the stock has dropped over 3%.The post Tesla’s Bitcoin holdings Remained unchanged in the First Quarter first appeared on Cryptoknowmics-Crypto N...