Tesla did not sell Bitcoin

In the third quarter of 2024, Tesla did not buy or sell any Bitcoin, according to the quarterly report of the automaker. Tesla's Bitcoin position remains at $184 million.

At the beginning of the quarter, on June 30, 2024, the value of Tesla's digital assets was $184 million, at a BTC exchange rate of $60,888. At the end of the third quarter, on Sept. 30, 2024, Bitcoin was quoted around $65,650. Theoretically, then, the value of Tesla's crypto assets has increased, but current accounting rules do not allow such gains to be recognized on the balance sheet. This is expected to change by the end of the year, which will delight Michael Saylor.

In mid-2022, Tesla sold 75 percent of its Bitcoin holdings, causing a stir in the crypto community. Just a few days ago, a shift of Bitcoin worth about $772 million was observed on a wallet believed to belong to Tesla. Whether Elon Musk actually sold the more than 11,000 BTC will only become clear in the Q4 report.

In Q3 2024, Tesla achieved revenue of $25.18 billion, slightly less than expected. Nevertheless, TSLA shares rose 12 percent in after-hours trading and currently stand at $239.

The crypto market remains quiet for now. Bitcoin stands at $67,300 at the time of writing, with a modest gain of 0.35 percent over the past 24 hours. Ethereum is trading at $2,500, with a day's loss of 2.5 percent. If Tesla continues to hold onto its BTC holdings, the company will be among the absolute Bitcoin elite in the business world.