Tesla still holds Bitcoin, thanks to Elon Musk and his apparent love of the crypto. The car company reported its Q4 earnings this morning after the bell, and to the delight of Bitcoin enthusiasts, it looks like they’re not letting go of Bitcoin.
Elon Musk still has diamond hands
In its latest earnings report, Tesla confirms that it neither bought nor sold Bitcoin during the quarter. The company – whose Chief Twit is currently on trial for a tweet he posted that allegedly misled investors, yikes! – digital assets holdings which was confirmed to be 10,725 Bitcoin are still the same, showing Musky has classic diamond hands.
The value of Tesla’s Bitcoin is now at around $184 million, down from $218 million.
Tesla sells SOME Bitcoin
In July 2022, Tesla sold 75% of its Bitcoin holdings for $936 million. For what, you ask? Musky said at the time he was concerned about the company’s “liquidity” due to China’s COVID shutdown. Speaking of which, have you seen this video of him dancing at a Tesla event in China?! It’ll brighten up your day. I watch it every now and then for some serotonin.
Tesla reported a revenue of $24.3 billion, beating analyst expectations of $24.16 billion. Billionaires will do anything for that bread. Moving on.
Twitter is still not earning much, nothing much to see here
Speaking of Musk, Twitter is still not great. Musk is not making much money with the platform and is exhausting his brain cells from trying to come up with new revenue streams, that poor man!
But at the same time, he complained in mid-January that Twitter has too many ads and says he is taking steps to address the issue. But if there are less ads, how would Twitter make money…? My pea brain is unable to comprehend Elon’s big brain moments, I’d love to be enlightened.
It was most recently reported that Twitter’s revenue is down 40% year-on-year since Musk, dad of nine, took over. The first major interest payment for the company is also due at the end of February.
Sir, rent is due, gotta unleash those dance moves to pay up.