Electric car maker Tesla (TSLA) did not buy or sell any bitcoin in the 1st quarter of 2023, the company reported in its earnings release Wednesday afternoon.
The value of digital assets held by Tesla at quarter’s end was $184 million, flat from 2022 Q4. The valuation remained flat even as bitcoin (BTC) rose to about $28,500 at the end of Q1 from $16,500 three months earlier, as current accounting rules don’t allow such gains to be booked.
Tesla made no changes to the amount of bitcoin it held for the third consecutive quarter.
For the first quarter, Tesla reported adjusted earnings per share (EPS) of $0.85 versus FactSet estimates of $0.85. Revenue of $23.33 billion was less than FactSet estimates for $23.6 billion.
Shares are down 4.2% in after hours action.
