Bitcoin Holdings Intact as Company Invests in AI

Electric vehicle manufacturer Tesla has maintained its substantial Bitcoin holdings for the fifth consecutive quarter. Despite this, the company is increasing its investments to enhance its computing capacity as part of its artificial intelligence initiatives.

In its Q3 2023 results, released on October 18, Tesla reported that as of September 30, it possessed digital assets valued at $184 million. This amount represents a fraction of the $1.5 billion worth of Bitcoin acquired in March 2021.

Additionally, Tesla’s share prices saw a decline after the earnings announcement, dropping to a low of $230.19.