Tesla Removes Language Expressing Confidence in Bitcoin

Electric vehicle maker no longer touting the long term potential of digital assets.

July 25, 2022

Tesla (TSLA) removed language related to the long term potential for bitcoin and other digital assets in its latest quarterly filing. The statement removed from the latest filing— which had appeared in the previous three quarterly filings and the latest annual report— was previously included in the company’s warning about the price volatility of digital assets:

“We believe in the long-term potential of digital assets both as an investment and also as a liquid alternative to cash.”

The change coincides with Tesla’s announcement it had converted approximately 75% of its digital assets into fiat currency.

Related: GM, F, LCID, GOEV, CMI, BWA

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