Electric vehicle and clean energy company Tesla Inc has recently disclosed its earnings in a Q1 2021 update report. According to the report, the company sold a part of its Bitcoin holdings for $272 million in proceeds.
The holdings sold were from the same batch of tokens purchased for $1.5 billion back in February, which means that there are currently over $1.3 billion worth of Bitcoin left in the company’s possession after the sale.
The report listed “Proceeds from sale of digital assets” with $272 million in proceeds for the sale of Bitcoin in the “Statement on Cash Flows” section.
The report also stated that cash has gone down to $17.1 billion in Q1, due to a part of $1.2 billion worth of expenditure being used to buy Bitcoin.
In February, the price of Bitcoin shot up to $43,730 — a record-breaking high at the time — as soon as Tesla founder Elon Musk revealed that the company has acquired $1.5 billion worth of Bitcoin.