The electric car company, Tesla, stated that it didn’t sell any Bitcoin in the first quarter of this year, keeping its holdings of 9,720 BTC valued at roughly $711 million.
This represents seven straight quarters of no Bitcoin sales for Tesla, reflecting a long-term “HODLing” policy. Despite no sales, Tesla’s Bitcoin worth soared due to BTC hitting a record high of $73,250 in March.
This strategy contrasts with Tesla’s prior move to sell 75% of its BTC holdings in 2022. However, Tesla’s present posture suggests confidence in Bitcoin’s future growth potential, especially after the recent Bitcoin halving event.
The choice not to sell aligns Tesla with MicroStrategy, run by Michael Saylor, which similarly refrains from selling its Bitcoin while actively acquiring more. MicroStrategy recently added 9,245 BTC to its holdings, totaling 214,246 BTC.
The absence of Bitcoin sales doesn’t signal stagnation for Tesla, as the rising Bitcoin price greatly improved the value of its assets. This strategic alignment with MicroStrategy suggests at a common view in Bitcoin’s long-term value, positioning both companies to benefit from possible future price growth.
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