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Tesla (TSLA) liquidated 75% of its Bitcoin holdings in Q2 2022

Tesla has parted with a large share of its Bitcoin, the company has shared.

Donovan Erskine

July 20, 2022 1:27 PM

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Tesla (TSLA) has shared its earnings report for Q2 2022, chronicling the company’s financial performance over the past few months. It also informs investors of the major business moves that have been made during that period. In its Q2 2022 report, Tesla reveals that the company liquidated a whopping 75 percent of its Bitcoin holdings.

It’s on page 5 of Tesla’s (TSLA) Q2 2022 earnings report that the company talks about its cash flow during the quarter. The electric vehicle manufacturer mentions the popular cryptocurrency Bitcoin, sharing that it’s gotten rid of three quarters of BTC, converting it to fiat currency.

Tesla goes on to say that the move to liquidate such a large share of its Bitcoin added $936 million in cash to its balance sheet. It’s a significant figure, as it’s the driving force behind Tesla’s cash flow total for Q2 2022.

It will be interesting to see if Tesla looks to liquidate more of its Bitcoin in future quarters. It’s just one nugget of information that can be found in the company’s full Q2 2022 earnings report. If you’re looking for more Tesla news, stick with Shacknews.

Donovan Erskine

News Editor

Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Scream nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_