Tesla HODL Bitcoin: $184 Million in Crypto on balance sheet in Q4 2023

Carmaker Tesla released its financial results for the fourth quarter of 2023 this week. Does Tesla hodl Bitcoin? Although the report only mentions “digital assets” and not directly crypto or BTC, analysts estimate that the company still holds $184 million in Bitcoin.

Q4 2023 balance sheet reveals Tesla hodl Bitcoin

The turbulent history of Tesla with Bitcoin began in February 2021, when the company invested $1.5 billion to acquire nearly 43,000 BTC. A few months later, Tesla was even accepting Bitcoin payments for the purchase of its vehicles, making it a pioneer among large companies.

However, in the face of growing criticism about the environmental impact of Bitcoin mining, Tesla did an about-face mid-2022 by selling 75% of its BTC holdings. The transaction netted the company $936 million, a substantial capital gain on its initial investment.

Today, according to estimates, Tesla still holds nearly 9,720 BTC in its vaults, valued at $184 million at current exchange rates. Indeed, we note on the projected balance sheet for Q4 2023 the company’s estimate for its digital assets of $184 million. Although the flagship electric car company has been overtaken by MicroStrategy and its 189,150 BTC, Tesla is still one of the largest Bitcoin holders among publicly traded companies.

Towards new horizons

Although Tesla is quietly keeping a foot in crypto, the carmaker is now accelerating into new areas such as artificial intelligence and roboticsElon Musk is banking on the upcoming launch of a “next-generation vehicle” at his Texas plant.

During the presentation of financial results for the fourth quarter of last year, the CEO also estimated that the humanoid robot Optimus currently being developed by Tesla, could eventually exceed the value of all the group’s other projects combined.

Alongside these disruptive innovations, Tesla is concentrating its industrial efforts on the ramping up production of its Cybertruck 100% electric pickup truck. Annual capacity could reach 125,000 vehicles by 2024.

Thwarted ambitions?

Some comments from Elon Musk during the presentation of the company’s results. In particular, the billionaire spoke of his personal ambition to hold 25% of Tesla’s capital. He is also considering strengthening his control via a two-tier shareholding structure.

Controversial governance that would give even more power to Elon Musk, at the risk of irritating institutional investors. Yet these are crucial to financing Tesla’s costly ambitions in autonomous and electric cars.

Between unbridled innovation and the temptation of absolute power, will Tesla be able to preserve the fragile balance that has ensured its spectacular rise?
In the meantime, Tesla HODL Bitcoin and bets on the long term !