Tesla’s Q4 Report Shows Zero Dogecoin Holdings and Over $180M Bitcoin Holdings
Automobile manufacturer Tesla, published its report for the last quarter of 2022, with the company’s total Bitcoin holdings of over $180 million and no Dogecoin in its reserve.
Dogecoin Holdings Still At Zero?
This reveal actually comes as a surprise to many, as Tesla had previously announced that it would accept dogecoin as a payment method for its products.
But the question still remains why the report had no entry of a Dogecoin holding. In the whole report, there was no single mention of the memecoin.
The report showed that Tesla had over $180 million in Bitcoin holdings as at the close of the year.
Despite the bear market and dumps on the market, Tesla firm neither sold nor bought any Bitcoin in the fourth quarter, even when the value depreciated.
The firm recorded a $30 million loss in holdings towards the close of the year due to bad market conditions.
Furthermore, the report also revealed that Tesla has not invested in dogecoin, the meme-inspired cryptocurrency that witnessed a rally before the close of 2022.
Despite Tesla CEO Elon Musk’s vocal support and ardent advocacy for the cryptocurrency, the company made no investments in it.
However, Dogecoin still stands as the only crypto payment method to purchase a Tesla.
This news has raised questions about Tesla’s commitment to cryptocurrency as a payment method.
The company had previously announced that it would accept Bitcoin and dogecoin as payment for its products, but due to some environmental complaints about the Bitcoin mining nature, Bitcoin was dropped.
Experts’ Take On This Report
Many experts believe that Tesla’s decision to hold onto its Bitcoins and not invest in dogecoin could signify that the company is taking a more cautious approach to cryptocurrency.
With the volatile nature of the market, it makes sense for Tesla to hold steady on its investments rather than risking a significant loss.
Despite this, many in the industry remain optimistic about the future of cryptocurrency and its potential as a payment method.
With companies like Tesla and others showing an interest in the technology, it is likely that more businesses will begin to adopt cryptocurrency as a payment option in the coming years.
Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.
