Tesla, the company of Elon Musk, who is known for his support of Dogecoin and who is also an investor in Bitcoin and Ethereum, will announce its earnings reports for the first quarter of 2023 today.
What Time Will Tesla Announce Its Balance Sheet?
Tesla is expected to announce its balance sheet at 23:00 today, just after the markets close.
Did Tesla Sell or Buy Bitcoin?
In its earnings report on July 20, 2022, Tesla announced that it sold $963 million worth of Bitcoin at $29,000. The company decided to sell 75% of its BTCs and keep 25%, and did not report any purchases or sales in the subsequent balance sheet statements.
In this after-sales statement, Tesla CEO Elon Musk said:
“We sold our Bitcoins due to the uncertainty about the lockdowns in China.
We are open to buying more Bitcoins in the future.
We have never sold Dogecoins.”
Tesla, who sold his Bitcoins at $29,000, later took the opportunity to buy them at a 50% discount, as the price fell by $15500. If Tesla has made any BTC purchases below $20,000, we will see that in today's report.
Was Elon Musk's statement "We are open to buying Bitcoin in the future" just about price or will he wait until energy concerns pass? Unknown. In fact, today's balance sheet results will also answer whether Tesla's Bitcoin sale was just due to price concerns.
Tesla, which does not have much BTC left after the last sale, is not thought to sell them.
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You can read related news for Tesla's Bitcoin sale in July and Elon Musk's statements.