Previously it was reported that the electric car manufacturing company, Tesla (TSLA), was known to have not carried out Bitcoin transactions for two consecutive quarters.

Based on the company’s latest financial report, it shows that Tesla had digital assets worth USD 184 million as of June 30, the same amount as at the end of March 2023 and December 2022.

Tesla’s last significant change in digital asset holdings occurred in the final quarter of last year, when its holdings fell from USD 218 million to USD 184 million.

Previously, in July 2022, the company said it sold part of its Bitcoin for USD 936 million. The sale amounted to about three-quarters of the Bitcoin the company initially purchased in early 2021.

At the end of the second quarter of this year, the price of bitcoin was approximately USD 30,400, up from approximately USD 28,500 at the end of the first quarter. However, current accounting rules do not allow digital asset valuations to be increased when prices rise, unless the asset is sold, but can be reduced when prices fall, even before the sale.

According to Coindesk, Thursday (20/7/2023), Tesla has not bought or sold any bitcoin since the second quarter of last year.

The company initially purchased USD 1.5 billion worth of bitcoin in early 2021, with CEO Elon Musk giving a boost to the bitcoin price, also saying Tesla would accept bitcoin as payment for its cars, which Musk eventually withdrew.

The news of Tesla’s zero Bitcoin transactions came at the same time as the company’s financial report for the second quarter of 2023. In that period, Tesla reported adjusted earnings per share of USD 0.91, compared to the consensus analyst estimate of USD 0.80, according to FactSet.

Tesla’s revenue in the second quarter was recorded at USD 24.9 billion, exceeding analyst estimates of USD 24.2 billion.