Tesla’s balance sheet revealed a Hold of $1.26B in Digital Assets

Tesla hasn’t sold any Bitcoin

Since the first quarter of last year, Tesla has neither bought nor sold any crypto assets.

Tesla’s earnings for the first quarter of 2022 were revealed on Wednesday.

Despite inflation pressure, Elon Musk’s electric car company reported another record quarter of sales and earnings, topping Wall Street projections.

Revenue increased by 81 percent to $18.76 billion from $10.39 billion the previous year.

Its earnings increased by 658 percent in the first quarter of this year, from $438 million the previous year to $3.32 billion.”I’ve never been more positive and enthused about the future than I am right now,” Musk added.

Elon musk has No plans to sell these digital assets

Tesla’s statement of cash flows still states that the company’s single acquisition of digital assets was $1.5 billion in BTC in the first quarter of last year.

Tesla started accepting the meme cryptocurrency dogecoin for some items in January. Bitcoin, on the other hand, has yet to be reinstated as a payment option by the corporation.

According to Musk, bitcoin is better suited for the storage of wealth, but dogecoin is better suited for transactions. He previously stated that he owns bitcoin (BTC), ether (ETH), and dogecoin (DOGE) and has no plans to sell them.

Tesla CEO Elon Musk has made a bid to purchase Twitter Inc. with the goal of making “major changes” to the website The offer came after he purchased a 9.2 percent share in the social media behemoth. Musk is rumored to have acquired $46.5 billion to purchase Twitter.

Andrew Smith

Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.