Tesla Maintains $387 Million Bitcoin Holdings in Q4 2023

Despite a challenging quarter with a dip in operating margin, the company's net income more than doubled due to a significant noncash tax benefit.

Tesla Inc. maintained its Bitcoin holdings throughout the fourth quarter of 2023, with no sales or purchases of the cryptocurrency.
The company's Bitcoin assets are valued at approximately $387 million, with over 9,720 BTC in its possession.
Tesla's Bitcoin journey began in February 2021 with a substantial investment of $1.5 billion, but the company sold 75% of its holdings in Q2 2022 amid COVID-related uncertainties.
Tesla's latest earnings report indicated a marginal increase in total revenue, up 3% from the previous year, but a notable dip in operating margin to 8.2%.
Despite these setbacks, Tesla's net income more than doubled in the quarter, primarily due to a significant noncash tax benefit.