Tesla holds $184M in Bitcoin through Q3 amid revenue dip

Tesla’s Q3 2024 financial filings revealed that the company has maintained its $184 million in digital asset investments for five consecutive business quarters.

The report confirmed that Tesla did not sell any of its crypto holdings during the third quarter, according to Arkham Intelligence.

Tesla’s balance sheet indicated a total of 11,509 BTC, valued at approximately $750.7 million based on current prices.

The financial statements dispelled recent speculation about Tesla-linked wallet movements, indicating no changes in its digital asset position.

This stability has attracted attention from market participants monitoring institutional Bitcoin (CRYPTO:BTC) holdings and their potential market implications.

According to Tesla’s Q3 filings, the company reported revenue of $25.18 billion, slightly down from $25.5 billion in the previous quarter.

However, net income increased significantly to around $2.18 billion, up from Q2’s $1.5 billion.

This growth was achieved despite fluctuating automotive sales and a minor rise in lease revenues.

Tesla’s consistent Bitcoin position highlights its long-term investment approach.

Since its initial purchase of $1.5 billion in Bitcoin in 2021, Tesla has retained a significant share, making it a key entity in institutional crypto investments.

Investors closely watch these holdings as a measure of institutional interest and potential market impacts.

Recent financial disclosures matched earlier findings from Arkham Intelligence, which identified Bitcoin movements in Tesla-associated wallets.

These shifts raised concerns within the crypto community, but Tesla’s report confirmed that the wallet activity did not involve liquidating any digital assets.

This steady stance by Tesla on Bitcoin demonstrates its commitment to holding the asset, which continues to draw attention within the broader market.

According to analysts, the company’s continued investment signals its strategic outlook on digital assets amid fluctuating market conditions.

At the time of reporting, the Bitcoin price was $67,151.39.