Tesla (TSLA.US) announced its quarterly results on Wednesday, revealing that its digital asset holdings have spiked by 72% from US$722 million in the same period last year to US$1.24 billion, reflecting the uptick in Bitcoin prices boosting asset value.

The market is watching whether Tesla will increase its Bitcoin holdings again to capitalize on the market uptrend, but the company has not disclosed any further cryptocurrency investment strategies.

However, Tesla purchased US$1.5 billion in Bitcoin in 2021 but sold about three-quarters of its holdings when the market plummeted the following year.

Subsequently, Bitcoin rebounded sharply, swelling approximately 80% over the past year, and Tesla missed out on potential gains of billions of US dollars.
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AASTOCKS Financial News
Website: www.aastocks.com

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