Tesla, a company closely followed by the cryptocurrency market because it holds a large amount of Bitcoin, announced its highly anticipated earnings report.
According to the published report, there was no change in the company's Bitcoin assets. Tesla did not sell or buy Bitcoin.
While other U.S. automakers struggled to produce and sell high volumes of all-electric vehicles last year, Tesla reported 484,507 deliveries in the fourth quarter and more than 1.8 million deliveries for 2023. Hefty price cuts helped Tesla reach this number, which was a record for the company.
Elon Musk said in his recent statement that he wanted to have more power in the company:
“I am uncomfortable growing Tesla to become a leader in AI and robotics without having ~25% voting control. Just enough to be effective, but not so much that it couldn't knock me down. “As long as that's not the case, I'd rather make products other than Tesla.”
Musk is developing artificial intelligence products outside Tesla, including X.AI, a startup he founded in Nevada in March 2023, according to public records.
Before the earnings report was announced, it was known that Tesla had 9,720 BTC.
Tesla Q4 revenue: $25.17 billion (Expected: $25.87 billion)
*This is not investment advice.