Despite having already sold 75% of its Bitcoin (BTC) holdings during the second quarter of 2022, Tesla, a company that makes electric vehicles, decided not to sell any more Bitcoin (BTC) during the second half of that year.

For the second quarter in a row, Tesla’s financials reveal that the company did not buy or sell any of its Bitcoin holdings despite reporting its fourth-quarter results on Jan. 25.

This was the case despite the severe market turmoil that occurred in November and December as a direct result of the FTX bankruptcy. According to the documents, the company had digital assets worth $184 million as of December 31. This is a decrease from the $218 million in holdings it held at the end of the prior quarter due to $34 million in impairment charges that were incurred as a result. result of the fall in the price of Bitcoin between the end of September and December of last year.

On September 30, the price of Bitcoin was above $19,500, but by December 31 it had fallen almost 15% to $16,600.

After selling 75% of its Bitcoin holdings during the second quarter of the previous year, the electric vehicle (EV) maker maintained ownership of the cryptocurrency until the third quarter.

The sale in the second quarter generated $936 million in cash for Tesla and the company earned a profit of $64 million.

Elon Musk, CEO of Tesla, detailed the motivation for the transaction at the time it occurred, stating that he wanted to “showcase the liquidity of Bitcoin as an alternative to storing cash on a balance sheet.”

On the other hand, Tesla did not address its Bitcoin holdings or provide its perspective on Bitcoin during its most recent earnings call, which took place on January 25.

Tesla is believed to have 9,720 BTC in his possession.

The company’s gross margins for the quarter hit their lowest level in five consecutive quarters, resulting in overall profit for the quarter of $5.7 billion on sales of $24.3 billion.

Total sales for the year were $81.4 billion, but the corporation still managed to turn a profit of $20.8 million.

The sales number was lower than analyst forecasts, but the profit was better than consensus projections.

Tesla’s stock price ended the day with a gain of around 0.40%, which is a small gain over the course of the day.

According to Google Finance, it continued to trade in a favorable direction after hours, up roughly 4.6% at the time of writing.