Tesla’s latest quarterly financial report shows that the company’s bitcoin holdings were valued at $184 million in the fourth quarter, marking the sixth consecutive quarter without any buying or selling activity. This means that the company continues to hold approximately 9,720 bitcoins with a total value of around $435 million.
It is worth noting that Tesla had previously sold 75% of its bitcoin holdings, cashing in $936 million. However, CEO Elon Musk has expressed an open attitude towards increasing the holdings.
The financial report fell below expectations, causing the stock price to drop nearly 6% in after-hours trading.
Will the Optimus robot ship next year? Will Tesla sell 250,000 Cybertrucks annually?
Bitcoin’s market value surpasses Tesla’s once again as Tesla spent $1.5 billion to purchase bitcoins at the beginning of 2021.
The report shows that Tesla’s automotive revenue growth has decreased to 1% annually, with total revenue increasing by only 3% to $25.16 billion, falling short of the expected $25.76 billion. The gross margin fell to 17.6%, and the operating profit margin was 8.2%, lower than the 16% in the same period last year but slightly higher than the previous quarter’s 7.6%. The EPS was $0.71, lower than the expected $0.74.
Tesla attributed the decrease in revenue and profit to two main factors: a decline in average vehicle selling prices and an increase in operating expenses driven by artificial intelligence and other research and development projects.
During the investor presentation, Tesla stated that the growth rate of car sales this year may be significantly lower than last year’s, as the company is focusing on launching the next generation of affordable cars in Texas. Musk mentioned that it is possible to deliver a certain number of Optimus robots next year but admitted to being overly optimistic about timelines.
Musk emphasized the potential of Optimus, believing that its value will far exceed all of Tesla’s current business. He explained that the technology developed for Tesla’s vehicles can be well applied to Optimus, as cars are essentially “four-wheeled robots.”
Furthermore, Tesla has started selling Cybertrucks to customers. The company currently has the capacity to produce over 125,000 Cybertrucks within a year, but due to its complexity, it is expected to take longer to increase production compared to other models.
During the financial conference call, Musk described the Cybertruck as the “best product ever and an eye-catching product” and optimistically stated, “I think we’ll deliver about 250,000 Cybertrucks annually.”
Despite recent pressure on bitcoin prices, which have been fluctuating around $40,000, the latest data from 8marketcap shows that bitcoin’s market value has surpassed Tesla’s, becoming the 11th largest asset by market value globally.
Currently, bitcoin’s market value is approximately $784.5 billion, with a slight increase of 0.67% in the past 24 hours. Tesla’s market value is around $660.6 billion, with a 0.63% decrease in stock price yesterday.
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Bitcoin’s market value surpasses Tesla’s once again, ranking 11th in the world; Will Tesla reopen bitcoin payments?