Tesla did not sell Bitcoin in the third quarter of 2024, says financial report report.
Tesla holds $184 million worth of bitcoins. Data: Tesla financial report.
On October 16, the car company transferred all of its 11,509 BTC, worth approximately $760 million, to unknown addresses. Arkham experts later reported that she continued to hold the coins, distributing them into seven different wallets with balances ranging from 1,100 BTC to 2,109.3 BTC.
𝗨𝗣𝗗𝗔𝗧𝗘: 𝗧𝗘𝗦𝗟𝗔 𝗕𝗜𝗧𝗖𝗢𝗜𝗡 𝗪𝗔𝗟𝗟𝗘𝗧𝗦
We believe that the Tesla wallet movements that we reported on last week were wallet rotations with the Bitcoin still owned by Tesla.
Tesla moved their entire balance of 11,509 BTC ($776.9M) to new wallets. pic.twitter.com/aWeHrwjo22
— Arkham (@ArkhamIntel) October 22, 2024
At the current Bitcoin price of $66,855, Tesla’s crypto assets are valued at $770 million.
According to BitcoinTreasuriesthe electric vehicle maker is the fourth-largest corporate holder of the first cryptocurrency by reserves. The service believes that the company owns 9720 BTC.
Tesla’s third-quarter revenue exceeded $25.18 billion, down slightly from $25.5 billion in the previous reporting period. Net income was $2.18 billion, up sharply from $1.5 billion.
After the publication of the report, shares of Elon Musk’s company rose by 11%.
In February 2021, it became known that Tesla had invested $1.5 billion in Bitcoin. Musk called these investments “quite risky.”
In the spring of the same year, the company began selling electric cars for digital gold, but subsequently abandoned this option.
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Source: Cryptocurrency

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