Bitcoin Moves, But Tesla Stays Firm: What’s Behind the BTC Speculation?

Tesla maintained its Bitcoin holdings at 11,509 BTC, valued at $184 million, through Q3 2024, despite transferring the assets to new wallets.

The move, which sparked speculation but didn’t signal a sale, was likely a routine security measure. Tesla reported $25.2 billion in revenue and $2.7 billion in profits, driven by record vehicle deliveries and a 52% increase in energy storage.

Tesla, holding the third-largest Bitcoin reserve among public companies, continues to secure its BTC with Coinbase Prime Custody, spread across seven wallets.

Clever Robot News Desk 25^th October 2024