Cause for celebration? Tesla still hodls 9,720 BTC (at a loss) two years after it spent $1.5 billion on Bitcoin.
Two years to the day that Elon Musk’s firm added BTC to its balance sheet, most gains continue to evade the auto manufacturer.Bitcoin and Tesla have proven an explosive combination since CEO Musk announced that it wouldThe move in February 2021 came as BTC/USD was on its way to its first all-time high of the year, which it reached in April, topping out at $58,000.
Since then, Tesla has hodled 9,720 BTC, with subsequent price action still denying the company any investment gains. According to Bitcoin Treasuries, Tesla is still 33% down on its remaining stash as of February 2023, worth $225 million.TSLA and BTC rise in tandemon the relationship between the Bitcoin spot price and Tesla stock, with both seeing a broad resurgence at the start of 2023.
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