Tesla’s (TSLA) Bitcoin (BTC) holdings remained stable at 9,720 BTC in the third quarter, the U.S. automaker’s new earnings report showed on Wednesday.
There was no mention of Bitcoin in the quarterly report, meaning the company did not buy or sell BTC in the three months ending in September. The stake, valued at $275.4 million at the current market price of $28,300, remained unchanged for the fifth consecutive quarter.
Tesla, led by crypto advocate Elon Musk, invested $1.5 billion in Bitcoin in February 2021, raising around 43,000 tokens. In the same month, Tesla announced that it would accept Bitcoin as a payment method.
However, the company softened its intentions in the following months. The company sold 4,320 BTC in the first quarter of 2021 and liquidated 75% of the balance at a heavy loss last year.
However, Tesla still holds the third-largest Bitcoin holdings of a publicly traded company, behind MicroStrategy (MSTR) and Marathon Digital Holdings (MARA).
Tesla reported net income of $1.85 billion for the July-September quarter, down 44 percent from a year earlier, with earnings per share falling to 53 cents from 95 cents.
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