💥 Why Tesla stores its Bitcoin? however Bitcoin doesn't care.

According to Tesla's most recent quarterly report, the corporation retains its 11,509 Bitcoin holdings, valued at $765 million, making it the fourth-largest Bitcoin holder among publicly traded US companies. For comparison, this accounts for only 0.06% of Bitcoin's overall market valuation.

The third-quarter earnings announcement puts an end to conjecture spurred by recent wallet moves. According to Arkham Intelligence data, Tesla divided its Bitcoin over seven wallets, each carrying 1,100 to 2,200 BTC, as part of security protocols.

Tesla's financial results were mixed. While gross margins increased to 19.8% from 18.0% in Q2, revenue fell short of expectations at $25.1 billion vs $25.4 billion, despite an 8% year-over-year increase. CEO Elon Musk recognized competition from lower-cost electric vehicles.

The Bitcoin markets frequently respond to Tesla's cryptocurrency movements. However, everyday Bitcoin trade volume reaches $20 billion, dwarfing Tesla's entire holdings. Tesla trails MicroStrategy, Marathon Digital Holdings, and Riot Platforms in institutional Bitcoin holdings.

SpaceX, also run by Musk, has 8,285 Bitcoin valued at $560 million, ranking eighth among private Bitcoin holders.

Tesla's Bitcoin odyssey began in 2021, when the company briefly allowed bitcoin for car sales. The corporation discontinued this technique due to the environmental effect of mining, although it remains possible that it will resume awaiting cleaner mining technologies.

Tesla's consistent Bitcoin holding implies that the company finds value in bitcoin exposure, despite the fact that its major industry is electric car production and energy solutions.

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