Tesla reported its Q3 2024 earnings on October 23rd, confirming that it retained its $184 million in Bitcoin throughout the quarter. This marks the fifth consecutive quarter without selling any of its holdings.

According to the company's financial statements, revenue for Q3 was over $25.18 billion, slightly down from Q2's revenue of $25.5 billion. 

Despite this, net income increased significantly, rising to approximately $2.18 billion from around $1.5 billion in the previous quarter.

Tesla first gained attention in the Bitcoin and cryptocurrency market in 2021 with a $1.5 billion Bitcoin purchase. 

Since then, the company's Bitcoin and digital asset holdings, along with those of other publicly traded firms, have been closely monitored by market participants as indicators of institutional interest and potential selling pressures.

On October 15th, on-chain analytics firm Arkham Intelligence reported that Bitcoin wallets, believed to be associated with Tesla, began transferring Bitcoin from an address that had been inactive since 2022 to an unknown destination.

Arkham stated that these wallets, which are purportedly controlled by Tesla, still hold 11,509 Bitcoin, valued at approximately $750.7 million at the time of reporting.

Tesla’s latest financial disclosures confirm that the company has not sold any of its Bitcoin, aligning with earlier reports from Arkham Intelligence.

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