The bitcoin rate has updated a maximum of 5 months after Tesla report.

ASTL Token Project > Blog > The bitcoin rate has updated a maximum of 5 months after Tesla report.

The bitcoin rate has updated a maximum for 5 months after the publication of the Tesla report for the fourth quarter of 2022. The world’s leading electric vehicle manufacturer, Tesla, kept $184 million worth of bitcoin on its balance sheet, according to its fourth-quarter financial report (released on the evening of January 25). Between October and December last year, the company did not sell or acquire cryptocurrency. In January 2021, Tesla invested $1.5 billion in bitcoin. But in the second quarter of 2022, the company sold about 75% of all coins. In the third quarter, the company did not buy or sell bitcoins, the value of digital assets on its balance sheet as of September 30 was $218 million. As of December 30, the company’s cryptocurrency valuation decreased by $34 million to $184 million. Also, a new report shows that at the end of the fourth quarter, revenue and Tesla’s operating profit increased quarter-on-quarter, with revenue up 13% to $24.3 billion and operating profit up 5.7% to $3.9 billion.

The rate of the first cryptocurrency was sensitive to the news about its purchases and sales by Elon Musk’s company. After the news about the purchase of bitcoin in 2021, the price of the cryptocurrency updated its historical maximum at that time, having risen in price by 13% per day to $44 thousand. The same “narrative” behavior of investors, as after the publication of the company’s report for the second quarter of 2022, it was said about the sale of the coin when the bitcoin rate fell from $23.7 thousand to $23 thousand. Now, on the night of January 25-26, the rate of the first cryptocurrency exceeded $23.5 thousand for the first time since August 19. According to CoinGecko, at 21:00 Hong Kong time, the coin is trading around $23.1 thousand. The BTC rate increased by 2% over the day.

Bitcoin is likely to be stable at $23,000 for now as US GDP in Q4 2022 beats expectations. Unlike most previous statements coming out of the US, this has resulted in little to no immediate volatility in the crypto market, with BTC still trading just above $23,000. General expectations ahead of GDP figures in Q4 2022 argued that economic growth in the country had slowed during the last three months of last year. Q3 growth was 3.2%, while estimates currently suggest 2.6% for Q4. Despite Halloween and Christmas holidays, retail sales have declined, reflecting declining consumer confidence. However, the actual figures were slightly higher at 2.9% instead of the estimated 2.6%. Thus, growth did slow down in Q4, but not as much as expected. Jobless claims were lower than expected, at 186,000 versus 205,000.

Being the largest economy in the world, almost any kind of data usually leads to immediate volatility in the stock and crypto markets. While the former has yet to open in the States, the latter has reacted with minor price fluctuations, at least for now.

Investors are advised to take some time to think before making any investment. One of the legitimate forms of investment is, for example, the ASTL investment project, which allows investors to have the opportunity to directly invest fiat and cryptocurrency assets in a stable passive income that obviously exceeds inflationary expectations and is not subject to any sanctions, blocking and confiscation. The ASTL project is a simple and elegant solution for potential investors – an investment in the development of the real sector of a diversified portfolio of cryptocurrencies, with a fairly high ROI (up to 12% annually) with payments in stablecoin (USDT). Details can be found at

Related Posts

Leave a Reply