Beijing News reports:
Tesla maintains its Bitcoin holdings at 11,509 BTC, worth approximately $765 million.
MicroStrategy outperforms tech giants, and Bitcoin ETFs may surpass Satoshi Nakamoto’s holdings.
Tesla’s third-quarter financial report quelled speculation about its Bitcoin (BTC) holdings.
This confirms that the company did not change its BTC position this year.
Recent headlines sparked speculation about Tesla’s transfer of its nearly $760 million Bitcoin reserves to an unknown wallet, raising concerns about an upcoming sell-off.
Tesla’s Bitcoin holdings in the third quarter were explained as follows:
Against this backdrop, Tesla holds a significant amount of Bitcoin, with 11,509 BTC valued at approximately $765 million as of the time of writing.
This makes Tesla the fourth-largest BTC holder among US-listed companies, trailing industry leaders MicroStrategy, Marathon Digital Holdings, and Riot Platforms.
In addition, Elon Musk’s SpaceX owns 8,285 BTC, worth about $560 million, making it the seventh-largest Bitcoin holder among private companies.
Nevertheless, in the earnings report for the third quarter of 2024:
Released on October 23, Tesla revealed that it has been maintaining its investments in digital assets and did not sell any of its $184 million cryptocurrency assets this quarter.
This marks the fifth consecutive quarter without any cryptocurrency sales.
As expected, the company’s third-quarter revenue exceeded $25.18 billion, slightly lower than the approximately $25.5 billion in the second quarter.
However, Tesla’s net income soared to around $2.18 billion, showing significant growth compared to the previous quarter’s net income of about $1.5 billion.
Other institutional participants and their positions:
However, while Tesla’s BTC holdings remain stable, Michael Saylor’s MicroStrategy has performed outstandingly.
Throughout July, the company outperformed well-known tech giants including NVIDIA, Tesla, and Microsoft.
By September, MicroStrategy had further solidified its position in the market, surpassing heavyweight companies such as Apple, Microsoft, NVIDIA, and Amazon.
In fact, Eric Balchunas, the leading ETF analyst at Bloomberg, made a stunning prediction, suggesting that Bitcoin exchange-traded funds (ETFs) may surpass the mysterious creator of Bitcoin, Satoshi Nakamoto, as the largest holder of cryptocurrencies before Christmas.
Meanwhile, according to the latest market data from CoinMarketCap, the trading price of BTC is $67,371.08, up 1.68% in the past 24 hours.
