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Here's What Happen to Tesla's Bitcoin Holdings in Third Quarter

19 Oct, 20221 min readBitcoin
Here's What Happen to Tesla's Bitcoin Holdings in Third Quarter

E-car manufacturer Tesla has reported that its Bitcoin holding had remained unchanged throughout the third quarter.

As reported by U.Today, the company sold 75% of its cryptocurrency holdings in the second quarter.

Tesla initially purchased $1.5 billion worth of Bitcoin in February 2021, propping up the value of the largest cryptocurrency.

Tesla missed Wall Street revenue estimates, generating an underwhelming $21.45 billion worth of revenue. The Street was looking for $21.96 billion.

The shares of the e-car maker are now down more than 5% due to the disappointing revenue miss after rebounding earlier this week together with the rest of the U.S. stock market.

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