Tesla Inc., the renowned American electric vehicle manufacturer, has revealed that it did not sell any of its 9,720 Bitcoin holdings during the first quarter of this year.

In the first quarter, the price of Bitcoin achieved a new all-time high (ATH) of $73,250, driven by a surge in demand for spot Bitcoin ETFs approved by the United States Securities and Exchange Commission (SEC) in January. This price increase significantly boosted the value of Tesla's Bitcoin holdings.

Despite the price hike, Tesla did not engage in any Bitcoin sales or purchases in Q1, marking the seventh consecutive quarter without any Bitcoin sales. This inactivity suggests that the company is holding onto its Bitcoin.

While some market observers might interpret Tesla's lack of growth in Bitcoin sales as a negative, it is important to note that the company's Bitcoin holdings have increased in value due to the price increase. In Q1, the 9,720 Bitcoins were valued at approximately $275.6 million, but due to the price increase, they are now worth over $711 million.

Tesla's Bitcoin strategy is similar to that of MicroStrategy, the business intelligence and software firm, as both companies have decided not to sell their Bitcoin holdings. However, MicroStrategy has continued to expand its Bitcoin portfolio, acquiring 9,245 BTC in mid-March, bringing its total holdings to 214,246 BTC.

MicroStrategy's CEO, Michael Saylor, has consistently stated that the company has no plans to sell its Bitcoin. Given Tesla's consistent stance on not selling its Bitcoin, it is likely following a similar strategy.

Additionally, the recent Bitcoin halving event is expected to bring further price growth to the cryptocurrency in the coming weeks, further solidifying Tesla's holdings.