Tesla reported its Q3 2024 earnings on October twenty third, confirming that it retained its $184 million in Bitcoin all through the quarter. This marks the fifth consecutive quarter with out promoting any of its holdings.
In keeping with the corporate’s monetary statements, income for Q3 was over $25.18 billion, barely down from Q2’s income of $25.5 billion.
Regardless of this, web revenue elevated considerably, rising to roughly $2.18 billion from round $1.5 billion within the earlier quarter.
Tesla first gained consideration within the Bitcoin and cryptocurrency market in 2021 with a $1.5 billion Bitcoin buy.
Since then, the corporate’s Bitcoin and digital asset holdings, together with these of different publicly traded companies, have been carefully monitored by market contributors as indicators of institutional curiosity and potential promoting pressures.
On October fifteenth, on-chain analytics agency Arkham Intelligence reported that Bitcoin wallets, believed to be related to Tesla, started transferring Bitcoin from an tackle that had been inactive since 2022 to an unknown vacation spot.
Arkham acknowledged that these wallets, that are purportedly managed by Tesla, nonetheless maintain 11,509 Bitcoin, valued at roughly $750.7 million on the time of reporting.
Tesla’s newest monetary disclosures affirm that the corporate has not bought any of its Bitcoin, aligning with earlier experiences from Arkham Intelligence.
Share this text