From Tesla’s earnings report for the second quarter of 2023, it appears that the cryptocurrencies on its balance sheet have not been sold since the second quarter of last year. Ivan Gostev, Commercial Director of GIS MINING declaration In a conversation with “Reedus” that there are at least three reasons for this.
The first possible reason, he says, is investment goals. The expert explained that holding Bitcoin could be a strategy to preserve asset value and diversify Tesla’s portfolio.
The second reason, according to Gostev, may be the company’s future partnership prospects. Tesla may hold his Bitcoin in anticipation of joint projects with other entities in the cryptocurrencies space. The third reason could be the banal expectation of a price increase, he said.
“Perhaps Tesla is counting on a further increase in Bitcoin’s value. In this case, holding assets will allow the company to generate additional profits if the bitcoin price continues to rise.”
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Elon Musk, former founder of Tesla declarationwho wants to create a “cyberbody with incredible abilities” controlled by a chip in his head.