- Tesla maintained its Bitcoin holdings at 11,509 BTC, valued at approximately $765 million.
- MicroStrategy outperformed tech giants, while Bitcoin ETFs may surpass Satoshi Nakamoto’s holdings.
As a seasoned crypto investor with a knack for following trends and company strategies, I find the recent performance of major players in the Bitcoin market quite intriguing. Tesla’s decision to maintain its Bitcoin holdings is a strategic move that signals confidence in the digital asset’s long-term potential. However, MicroStrategy’s impressive outperformance of tech giants like Tesla and Apple is a game-changer, demonstrating the power of a focused Bitcoin strategy.
According to Tesla’s Q3 financial report, all speculations about their Bitcoin holdings have been resolved, as they have not changed their Bitcoin position throughout the year.
A flurry of recent news articles has fueled conjecture as Tesla moved almost all of its Bitcoin holdings, estimated to be worth around 760 million dollars, to unidentified digital wallets, causing some apprehension about potential forthcoming sales.
Tesla’s Bitcoin holdings in Q3, explained
In the interest of clarity, it’s worth noting that Tesla currently possesses a substantial quantity of Bitcoin. Specifically, they own 11,509 Bitcoins, which equates to around $765 million as reported in the most recent news updates.
Among U.S. publicly traded companies, Tesla occupies the fourth spot for holding Bitcoin, trailing behind established industry giants such as MicroStrategy, Marathon Digital Holdings, and Riot Blockchain.
As a crypto enthusiast, I can’t help but mention that Elon Musk’s company, SpaceX, holds a substantial amount of 8,285 Bitcoins, currently valued at around $560 million. This makes them the seventh-largest Bitcoin holder among private companies, a fact that adds to the intrigue and potential value in this digital currency market.
In a recent financial report published on October 23, 2024, Tesla announced it held onto its crypto investments, which totaled $184 million, without selling any of them during Q3 2024.
This marks the fifth consecutive quarter without any crypto sales.
In line with our predictions, the company announced that their Q3 revenue surpassed $25.18 billion, marking a modest dip compared to around $25.5 billion earned in the second quarter.
Conversely, Tesla’s net income significantly rose to about $2.18 billion compared to the last quarter’s net income of roughly $1.5 billion.
Other institutional players and their positions
On the other hand, whereas Tesla’s Bitcoin holdings have stayed constant, MicroStrategy, under Michael Saylor’s leadership, has stood out by exceeding the performance of well-known tech companies like Nvidia, Tesla, and Microsoft during the month of July.
come September, I found myself proudly standing tall among tech giants such as Apple, Microsoft, NVIDIA, and Amazon, as MicroStrategy significantly boosted its market presence, cementing my investment in the crypto sector with a strong and undeniable impact.
Indeed, Eric Balchunas, a prominent ETF expert at Bloomberg, put forward an intriguing forecast: By Christmas, Bitcoin exchange-traded funds (ETFs) might amass more Bitcoin than Satoshi Nakamoto—the enigmatic inventor of Bitcoin—making them the biggest holders of the cryptocurrency.
Currently, according to recent market statistics from CoinMarketCap, Bitcoin is being exchanged at approximately $67,371.08, marking a 1.68% rise in value over the last day.
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2024-10-24 21:43