According to Tesla’s fourth-quarter report on Wednesday, it can be seen that the electric car maker is still holding approximately 9,720 bitcoins, having lost just $34 million on its investment in the cryptocurrency due to its price decline by the end of 2022, Cointelegraph writes.

Meanwhile, the company did not buy or sell its bitcoins for the second consecutive quarter, despite severe market turmoil in November and December following the collapse of FTX.

As of Dec. 31, the company held $184 million in digital assets, down from $218 million in the previous quarter, due to a $34 million impairment loss as the price of BTC fell between late September and December last year.

Bitcoin was worth about $19,500 on Sept. 30 and fell nearly 15% to $16,600 by Dec. 31.

But the electric car maker also held BTC until the third quarter of last year after selling 75% of those assets in the second quarter, which added $936 million in cash to Tesla and a $64 million profit to the firm.

Tesla CEO Ilon Musk explained at the time that the sale was to prove the liquidity of bitcoins as an alternative to holding cash on the firm’s balance sheet.

Tesla (NASDAQ:TSLA) owns approximately 9,720 BTC.

Overall, Tesla recorded a profit of $5.7 billion on revenue of $24.3 billion for the fourth quarter, with its gross profit at its lowest level in 5 quarters. The company’s total profit for 2022 was $20.8 million on revenue of $81.4 billion.

The company produced and delivered more than 1.3 million vehicles in 2022.