Based on the newly released third-quarter [earnings report](https://digitalassets.tesla.com/tesla-contents/image/upload/IR/TSLA-Q3-2023-Update-3.pdf) for electric automobile manufacturer Tesla, the company did not complete any sale of Bitcoin (BTC) in the last three months.Tesla HODLs 9720 BTC As of September 30th, Tesla’s Bitcoin holding was around 9,720 BTC which is currently valued at approximately $275.6 million.In the Q3 report, no mention was made about BTC and this suggests that there was no conversion of the digital currency to fiat currency in this last quarter.Had the firm made any proactive selloff move, it could have ultimately imparted its profitability and cash balance and this would have been reported by the firm.Tesla’s first foray into Bitcoin [began](https://coingape.com/tesla-buys-1-5-billion-bitcoin-days-elon-musk-twitter-bio-change/) in early 2021 with a $1.5 billion investment, as stated in a United States Securities and Exchange Commission (SEC) filing.Precisely, the Elon Musk-owned company bought 43,000 units of the leading digital asset by market capitalization at an estimated average price of around $34,000.Markedly, this was the same time the firm began [accepting](https://coingape.com/bitcoin-btc-shoots-4-as-tesla-starts-accepting-bitcoin-payments/) BTC as a payment option for its vehicles and other products.
Recommended Articles Tesla Sustains Bitcoin Holdings Shortly after Tesla’s acquisition and [hodling](https://coingape.com/elon-musk-clears-the-speculation-tesla-has-not-sold-any-bitcoin/) of Bitcoin tokens, talks about the impact of its mining operations on the environment began to make rounds in the ecosystem.
At this point, CEO Elon Musk began to hold some reservations about the coin and decided to sell off 4,320 BTC from its holding.In no time, BTC suffered a drop in value which consequently gave rise to a $101 million impairment [loss](https://coingape.com/tesla-suffers-101m-impairment-losses-on-bitcoin-holdings-in-2021/) for Tesla at the time.The sales of its Bitcoin holding continued and by Q2 2022, it was reported that the electric vehicle manufacturer had successfully [sold](https://coingape.com/tesla-has-sold-75-of-its-bitcoin-holdings-elon-musk-hints-at-buying-again-in-future/) 75% of its holding.At the time, Musk explained that the decision to sell a significant portion of its Bitcoin holding was largely tied to the fact that the company was not certain “when the COVID lockdowns in China would alleviate,” as it had to maximize its cash position.
Since then till now, Tesla has done better in terms of its Bitcoin HODLing agenda.In Q2 2023, its digital asset holding equally [remained](https://coingape.com/teslas-bitcoin-btc-holdings-remained-unchanged-for-q2-now-at-184-million/) unchanged just like its newly released Q3 2023 report highlights.[Breaking: Musk and Mark Cuban Team Up to Challenge SEC Trial Tactics](https://coingape.com/breaking-musk-and-mark-cuban-team-up-to-challenge-sec-trial-tactics/?utm_source=priceanalysisbar) [Sen.Warren and Legislators Urge Action on Crypto Terrorism](https://coingape.com/sen-warren-and-legislators-urge-action-on-crypto-terrorism/?utm_source=priceanalysisbar) [Over 33,000 Bitcoin Exit Exchange Wallets in Just Five Days, Bullish Move Incoming?](https://coingape.com/crypto-news-33000-bitcoin-exit-exchange-wallets-in-just-five-days/?utm_source=priceanalysisbar) [Just In: Tesla Reported No Bitcoin (BTC) Sales in Q3](https://coingape.com/just-in-tesla-reported-no-bitcoin-btc-sales-in-q3/?utm_source=priceanalysisbar) [XRP Rumored as France’s Pick for Digital Currency](https://coingape.com/xrp-rumored-as-frances-pick-for-digital-currency/?utm_source=priceanalysisbar) [Dogecoin Price Prediction: Will $0.055 Act as a Springboard for Next Recovery?](https://coingape.com/markets/dogecoin-price-prediction-will-0-055-springboard-the-next-recovery/?utm_source=priceanalysisbar) [Bitcoin Price Prediction As Buyers Break 90 Days Correction Trend](https://coingape.com/markets/bitcoin-price-prediction-as-buyers-break-90-days-correction/?utm_source=priceanalysisbar) [Ethereum Price Prediction As Demand Pressure Rises at $1500 Support](https://coingape.com/markets/ethereum-price-prediction-as-demand-pressure-rises-at-1500/?utm_source=priceanalysisbar) [XRP Price Prediction As $0.5 Breakdown Hint Further Correction Ahead](https://coingape.com/markets/xrp-price-prediction-as-0-5-breakdown-hint-correction-ahead/?utm_source=priceanalysisbar) [Cardano Price Prediction As $0.24 Yearly Support Sets a New Recovery?](https://coingape.com/markets/cardano-price-prediction-as-0-24-support-sets-new-recovery/?utm_source=priceanalysisbar).
