• Tesla reported that its bitcoin (BTC) holdings were unchanged in Q1 2023 and valued at $184 million.
• The value remained flat despite a significant increase in the spot price of bitcoin over the quarter due to accounting rules which do not allow for unrealized gains on such holdings to be booked.
• Tesla has never revealed exactly how many BTC it holds, but is believed to hold some 9,720 BTC as well as an undisclosed amount of dogecoin (DOGE).

Tesla’s Bitcoin Holdings Remain Unchanged

Tesla reported that its bitcoin (BTC) holdings have remained unchanged during the first quarter of 2023, with the value still standing at $184 million. This is despite a significant increase in the spot price of bitcoin over the quarter due to accounting rules which do not allow for unrealized gains on such holdings to be booked.

How Many Bitcoins Does Tesla Hold?

Tesla has never revealed exactly how many BTC it holds, but is believed to hold some 9,720 BTC as well as an undisclosed amount of dogecoin (DOGE). It is known that the company accepts DOGE as payment for some of its merchandise sold online, although no official purchase has been announced.

Q1 2023 Earnings Report

For the quarter, Tesla reported adjusted earnings per share of $0.85, in line with what was expected by most analysts. The firm’s revenue came in at $23.33 billion, just below the $23.6 billion analysts had expected.

Previous Quarter Performance

The first quarter of 2023 marks the third consecutive quarter where Tesla has held on to its digital assets, after it sold off some $936m worth of BTC during the second quarter