Tesla hodles on: Despite record high, Elon Musk does not sell Bitcoin

Tesla still holds 9,720 BTC worth about $650 million in its portfolio. Has Elon Musk learned anything?

Tesla has again failed to Bitcoin sold, the quarterly report for Q2 2024 shows. According to Tesla, the company owns 9,720 BTC worth about $650 million. However, Arkham Intelligence, an analysis platform, reports that it owns 11,509 BTC. There is no definitive explanation for this difference.

Tesla also did not sell Bitcoin in the previous quarter, despite BTC's record high in March 2024. So one can assume that Elon Musk expects prices to rise. Perhaps Tesla also just learned something.

In February 2021, Tesla invested about $1.5 billion in Bitcoin, acquiring about 43,000 BTC. About 75 percent of these Bitcoins were sold in Q2 2022, worth nearly $1 billion. At the current exchange rate of about $66,000, Tesla would receive $2.1 billion for that.

Elon Musk was the face of the crypto market for a long time. He spoke openly about his enthusiasm for Bitcoin and especially Dogecoin. After the November 2022 crash, he became quieter about crypto.

These days, he seems to be returning to the crypto space. In a livestream, he spoke positively about the Solana Memecoin Dogwifhat. He also recently changed his Twitter profile image back to laser eyes, Bitcoiner's identifying feature.

There is speculation that he will make an appearance at the Bitcoin conference in Nashville. He has also shown his openness to an integration of Bitcoin on X.