Tesla’s Q3 earnings report; Elon Musk kept his BTCs!

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Tesla’s Q3 earnings report Published on October 19, 2022. According to the report, Tesla’s Bitcoin reserves remained intact in the third quarter of the year.

Tesla’s latest earnings report for the third quarter of 2022 (Q3) shows that there is no change in the amount Bitcoin asset Elon Musk’s company has not been created.

Read more: The future of digital currencies in 2022

Tesla’s Q3 earnings report

The largest manufacturer of electronic vehicles apart from A billion dollar sale In the first quarter of the year, it made no other changes to its remaining Bitcoin reserves.

Tesla’s Q3 earnings report Released on October 19. The report shows that $218 million of digital assets remain on the balance sheet of Elon Musk’s company. According to predictions, Tesla still has 9,720 bitcoins.

Tesla's Q3 earnings report;  Elon Musk kept his BTCs!

Tesla in the report Second quarter income He had announced that he had sold 75% of his Bitcoin holdings. During this period, Tesla added $936 million in cash to its books and earned $64 million through product sales.

Tesla stock price drop

Elon Musk Elon Musk, the CEO of Tesla, explained in the past that the sale of Bitcoin assets in the second quarter of the year was due to liquidity concerns caused by the Covid-19 pandemic in China. The amount of Bitcoin sold in the second quarter accounted for a large portion of Tesla’s $1.5 billion BTC holdings.

According to the report of Yahoo Finance (Yahoo Finance), Tesla Inc The third quarter of 2022 It has made about 3.3 billion dollars. The income of this company was also mentioned in the Q3 report as about 21.45 billion dollars. This was lower than analysts’ expectations, and as a result, the company’s stock price fell by about 14% after the release of Tesla’s Q3 earnings report.

Since January, Elon Musk has made it possible to buy a wide range of his company’s products using Dogecoin. In May, SpaceX officially started supporting CoinDog meme. In September, Tesla sold one of its limited-edition products for $1,000. The value of this product at that time was 60 dollars. According to reports, the product sold out within hours.

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Source: cointelegraph

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