Tesla Has $218M in Bitcoin on its Balance Sheet

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Electric car maker Tesla has recently announced in its Q3 earnings report that it continues to hold BTC worth $218 million on its balance sheet.

During July-September, the company’s position in digital assets remained unchanged. No issues related to this topic were raised during the conference with analysts.

Three months ago, Tesla disclosed information about the sale of 75% of the company’s Bitcoins for $936 million. The company’s executives explained this move as “the need to increase liquidity during the period of anti-covid restrictions in China.”

Elon Musk’s rush to get back to the $44 billion Twitter takeover deal has not led to the liquidation of cryptocurrency positions.