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URLhttps://dailycoin.com/tesla-bitcoin-holdings-revealed-by-earnings-report-after-fears-of-dumping/
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First Indexed2024-10-24 20:32:02 (1 year ago)
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Meta TitleTesla Bitcoin Holdings Revealed by Earnings Report After Fears of Dumping - DailyCoin
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Tesla transferred $773M in Bitcoin before Q3 results, igniting speculation over potential sales. Published: October 24, 2024 │ 8:00 PM GMT Created by Kornelija Poderskytė from DailyCoin Tesla shifts 11,509 BTC, prompting concerns.  Q3 earnings reveal the state of crypto holdings.  Actual figures are higher than reported.  Tesla’s moves in crypto have long attracted significant attention. Since the company bought its initial $1.5 million Bitcoins in 2021, it has remained a major crypto investor. However, subsequent sales of its digital assets and recent wallet moves have rattled investors.  Sponsored On-chain investigators revealed that Tesla recently moved $773 million in Bitcoin to different wallets. This sparked concerns about the company selling off its remaining digital assets. Subsequent Q3 financial reports shed light on these moves.  Tesla Reveals Crypto Holdings in Q3 Report Recent financial reports revealed the extent of Tesla’s crypto holdings. On Wednesday, October 23, Tesla released its financial report for the third quarter of 2024. The report revealed that the company did not sell its Bitcoin holdings during that quarter.  Tesla ( @Tesla ) transferred all 11,509 $BTC (now worth $773M) to 7 new wallets 4 hours ago after 2 years of dormancy. Note that it is likely these are just new wallets belonging to Tesla. Elon Musk ( @elonmusk ), CEO of Tesla and a well-known advocate of #Bitcoin , has said that… pic.twitter.com/xZqfZZ67On — Spot On Chain (@spotonchain) October 16, 2024 The report indicates that Tesla has $184 million in digital assets. However, the actual figure is certainly higher, closer to $780 million at current prices. The discrepancy comes from an accounting rule that records crypto assets at “impaired value” or written down to its lowest market price. Tesla ( @Tesla ) transferred all 11,509 $BTC (now worth $773M) to 7 new wallets 4 hours ago after 2 years of dormancy. Note that it is likely these are just new wallets belonging to Tesla. Elon Musk ( @elonmusk ), CEO of Tesla and a well-known advocate of #Bitcoin , has said that… pic.twitter.com/xZqfZZ67On — Spot On Chain (@spotonchain) October 16, 2024 This report comes after Tesla moved $773 million worth of Bitcoin to seven different wallets, sparking investor concerns. This was despite Elon Musk reportedly instructing the company not to sell its digital assets.  Tesla’s Bitcoin Holdings in the Past Tesla started investing in Bitcoin in 2021 when the company announced that it would purchase $1.5 billion worth of Bitcoin. At the time, this was one of the biggest corporate investments in crypto. Since then, the company has gradually sold off its crypto assets.  The first sale came in Q1 of 2021, when the company sold 10% of its Bitcoin, earning 272 million in profit. Elon Musk claimed that this was part of the liquidity test. According to Musk, the goal of the sale was to see whether the market could absorb that much Bitcoin without significantly impacting its price.  Still, in July 2022, Tesla sold 75% of its Bitcoin holdings, reducing the amount from 42,902 BTC to 11,509 BTC. This was at the time when Bitcoin faced major uncertainty. The remaining Tesla’s Bitcoin holdings were worth about $218 million. Since Bitcoin’s rebound, these holdings have jumped back to around $780 million.    On the Flipside Tesla’s CEO Elon Musk revealed he personally holds Bitcoin, Ethereum, and a small quantity of Dogecoin.  The EV maker used to accept Dogecoin payments for its merch. This option disappeared from its website after Elon Musk got sued for allegedly pumping the memecoin.  Why This Matters Tesla remains a major holder in Bitcoin, and its moves can significantly impact its price. DailyCoin's Vibe Check: Which way are you leaning towards after reading this article? Market Sentiment 0% Neutral This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.
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Fact checked by: [Ciaran Lawler](https://dailycoin.com/author/ciaran-lawler/ "Fact checked by: Ciaran Lawler"), Editor: [Stefan Trapp](https://dailycoin.com/author/stefan-trapp/ "Editor: Stefan Trapp") Published: October 24, 2024 │ 8:00 PM GMT ![Guy writing a report on Tesla and bitcoin.](https://dailycoin.com/wp-content/uploads/2024/04/tesla_bitcoin_btc_elon-musk_report_web.jpg) *Created by Kornelija Poderskytė from DailyCoin* [![Google News Follow Button](https://dailycoin.com/wp-content/themes/cryptotimes/assets/img/follow-google-news-dailycoin-cryptonews.png)](https://news.google.com/publications/CAAqBwgKMIjkmAswmO6wAw?ceid=IN:en&oc=3) - **Tesla shifts 11,509 BTC, prompting concerns.** - **Q3 earnings reveal the state of crypto holdings.** - **Actual figures are higher than reported.** Tesla’s moves in crypto have long attracted significant attention. Since the company bought its initial \$1.5 million Bitcoins in 2021, it has remained a major crypto investor. However, subsequent sales of its digital assets and recent wallet moves have rattled investors. Sponsored On-chain investigators revealed that [Tesla](https://dailycoin.com/tag/tesla/) recently moved \$773 million in Bitcoin to different wallets. This sparked concerns about the company selling off its remaining digital assets. Subsequent Q3 financial reports shed light on these moves. ## Tesla Reveals Crypto Holdings in Q3 Report Recent financial reports revealed the extent of Tesla’s crypto holdings. On Wednesday, October 23, Tesla released its [financial report](https://digitalassets.tesla.com/tesla-contents/image/upload/IR/TSLA-Q3-2024-Update.pdf) for the third quarter of 2024. The report revealed that the company did not sell its Bitcoin holdings during that quarter. > Tesla ([@Tesla](https://twitter.com/Tesla?ref_src=twsrc%5Etfw)) transferred all 11,509 [\$BTC](https://twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw) (now worth \$773M) to 7 new wallets 4 hours ago after 2 years of dormancy. > > Note that it is likely these are just new wallets belonging to Tesla. > > Elon Musk ([@elonmusk](https://twitter.com/elonmusk?ref_src=twsrc%5Etfw)), CEO of Tesla and a well-known advocate of [\#Bitcoin](https://twitter.com/hashtag/Bitcoin?src=hash&ref_src=twsrc%5Etfw), has said that… [pic.twitter.com/xZqfZZ67On](https://t.co/xZqfZZ67On) > > — Spot On Chain (@spotonchain) [October 16, 2024](https://twitter.com/spotonchain/status/1846364821572477376?ref_src=twsrc%5Etfw) The report indicates that Tesla has \$184 million in digital assets. However, the [actual figure](https://dailycoin.com/why-tesla-reports-its-bitcoin-below-market-value-at-184m/) is certainly higher, closer to \$780 million at current prices. The discrepancy comes from an accounting rule that records crypto assets at “impaired value” or written down to its lowest market price. > Tesla ([@Tesla](https://twitter.com/Tesla?ref_src=twsrc%5Etfw)) transferred all 11,509 [\$BTC](https://twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw) (now worth \$773M) to 7 new wallets 4 hours ago after 2 years of dormancy. > > Note that it is likely these are just new wallets belonging to Tesla. > > Elon Musk ([@elonmusk](https://twitter.com/elonmusk?ref_src=twsrc%5Etfw)), CEO of Tesla and a well-known advocate of [\#Bitcoin](https://twitter.com/hashtag/Bitcoin?src=hash&ref_src=twsrc%5Etfw), has said that… [pic.twitter.com/xZqfZZ67On](https://t.co/xZqfZZ67On) > > — Spot On Chain (@spotonchain) [October 16, 2024](https://twitter.com/spotonchain/status/1846364821572477376?ref_src=twsrc%5Etfw) This report comes after Tesla [moved \$773 million](https://dailycoin.com/musks-tesla-shuffles-bitcoin-in-full-7-wallets-receive-773m/) worth of Bitcoin to seven different wallets, sparking investor concerns. This was despite [Elon Musk](https://dailycoin.com/elon-musk-crypto-history-putting-dogecoin-moon/ "Elon Musk’s Crypto History: The Good, the Bad, and Putting Dogecoin on the Moon") reportedly instructing the company not to sell its digital assets. ## Tesla’s Bitcoin Holdings in the Past Tesla started investing in Bitcoin in 2021 when the company announced that it would purchase \$1.5 billion worth of Bitcoin. At the time, this was one of the biggest corporate investments in crypto. Since then, the company has gradually sold off its crypto assets. The first sale came in Q1 of 2021, when the company sold 10% of its Bitcoin, earning 272 million in profit. Elon Musk claimed that this was part of the liquidity test. According to Musk, the goal of the sale was to see whether the market could absorb that much Bitcoin without significantly impacting its price. Still, in July 2022, Tesla sold 75% of its Bitcoin holdings, reducing the amount from 42,902 BTC to 11,509 BTC. This was at the time when Bitcoin faced major uncertainty. The remaining Tesla’s Bitcoin holdings were worth about \$218 million. Since Bitcoin’s rebound, these holdings have jumped back to around \$780 million. ### On the Flipside - **Tesla’s CEO Elon Musk revealed he personally holds Bitcoin, Ethereum, and a small quantity of Dogecoin.** - **The EV maker used to accept** [**Dogecoin payments**](https://dailycoin.com/elon-musk-suggests-doge-comeback-as-payment-option-for-tesla-merch/) **for its merch. This option disappeared from its website after Elon Musk got sued for allegedly pumping the memecoin.** ### Why This Matters Tesla remains a major holder in Bitcoin, and its moves can significantly impact its price. **Read more about Elon Musk’s stance on crypto:** [*Elon Musk Heralds DOGE as “the People’s Crypto” at Giga Berlin*](https://dailycoin.com/elon-musk-heralds-doge-as-the-peoples-crypto-at-giga-berlin/) **Read more about Solana’s ecosystem developments:** [*Solana-Based Elmnts Launches Tokenized Oil and Gas Platform*](https://dailycoin.com/solana-based-elmnts-launches-tokenized-oil-and-gas-platform/) DailyCoin's Vibe Check: Which way are you leaning towards after reading this article? Bullish Bearish Neutral Market Sentiment 0% Neutral This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss. ##### Tags [Elon Musk](https://dailycoin.com/tag/elon-musk/)[Tesla](https://dailycoin.com/tag/tesla/) ##### Author [![David Marsanic](https://dailycoin.com/wp-content/uploads/2022/11/David-Marsanic-200x200.png)](https://dailycoin.com/author/david-marsanic/ "Tesla Bitcoin Holdings Revealed by Earnings Report After Fears of Dumping") ###### [David Marsanic](https://dailycoin.com/author/david-marsanic/ "Tesla Bitcoin Holdings Revealed by Earnings Report After Fears of Dumping") David Marsanic is DailyCoin’s journalist, focusing on Solana and crypto exchanges. David currently doesn’t hold any crypto. [Read more]() Load More Crypto features \| April [Nexo Explore](https://nexo.sjv.io/q4zmBL) [![MoonPay Logo](https://dailycoin.com/wp-content/uploads/2025/02/moonpay_symbol_prp.png) MoonPay Explore](https://moonpay-affiliate-program.sjv.io/e1NAQj) [Uphold Explore](https://uphold.sjv.io/vNnR33) [Coinbase Explore](https://coinbase-consumer.sjv.io/MmA2Wo) [Crypto.com Explore](https://cryptocom.sjv.io/Y9QbQm) ## Related articles [![Elon Musk showing an X with his arms inside of a high-tech crypto command centre.](https://dailycoin.com/wp-content/uploads/2023/05/Elon_Musk_X_Crypto_Blockchain_Command_Centre_Smile_web-1200x800.jpg)](https://dailycoin.com/x-tests-built-in-crypto-wallet-as-analyst-bets-big-on-xrp-access/) ### [X Tests Built-In Crypto Wallet As Analyst Bets Big on XRP Access](https://dailycoin.com/x-tests-built-in-crypto-wallet-as-analyst-bets-big-on-xrp-access/) [![Elon Musk Invites you to take a security scan with AU10TIX.](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201060%20707'%3E%3C/svg%3E)![Elon Musk Invites you to take a security scan with AU10TIX.](https://dailycoin.com/wp-content/uploads/2024/06/AU10TIX_elon_musk_x_twitter_scan_ai_security_web-1200x800.jpg)](https://dailycoin.com/musk-folds-xai-into-spacex-teeing-up-audacious-play/) ### [Musk Folds xAI Into SpaceX, Teeing Up Audacious Play](https://dailycoin.com/musk-folds-xai-into-spacex-teeing-up-audacious-play/) [![Shiba and his rival are racing in the crypto chart.](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201060%20707'%3E%3C/svg%3E)![Shiba and his rival are racing in the crypto chart.](https://dailycoin.com/wp-content/uploads/2024/04/shib_shiba-inu_doge_race_eth_up_compare_unbranded_web-1200x800.jpg)](https://dailycoin.com/dogecoin-ai-coins-swing-high-as-elon-praises-nvidia-ceo/) ### [DOGE, AI Coins Swing High As Elon Praises NVIDIA CEO](https://dailycoin.com/dogecoin-ai-coins-swing-high-as-elon-praises-nvidia-ceo/) About Us - [Advertise](https://advertise.dailycoin.com/) - [Contact](https://dailycoin.com/contact/) - [Contributors](https://dailycoin.com/contributors/) - [Press Releases](https://dailycoin.com/press-releases/) - [Editorial Process](https://dailycoin.com/editorial-process/) - [Publishing Policies](https://dailycoin.com/publishing-policies/) Learn - [Events](https://dailycoin.com/events/) - [Cryptopedia](https://dailycoin.com/cryptopedia/) - [Topics A-Z](https://dailycoin.com/index/) Policies - [Cookie Statement](https://dailycoin.com/cookie-statement/) - [Privacy Policy](https://dailycoin.com/privacy-policy/) - [Risk warning](https://dailycoin.com/risk-warning/) - [Terms & conditions](https://dailycoin.com/terms-conditions/) Popular Sections - [Investigations](https://dailycoin.com/investigations/) - [SEC](https://dailycoin.com/regulations/sec/) - [Lawsuits](https://dailycoin.com/tag/lawsuits/) - [Web 3.0](https://dailycoin.com/tag/web-3-0/) - [Crypto Gaming](https://dailycoin.com/tag/gaming/) - [DeFi](https://dailycoin.com/tag/defi/) - [CBDCs](https://dailycoin.com/regulations/cbdcs/) - [FTX News](https://dailycoin.com/exchanges/ftx-news/) - [Hacks](https://dailycoin.com/tag/crypto-hacks/) - [Scams](https://dailycoin.com/tag/crypto-scam/) - [Binance](https://dailycoin.com/exchanges/binance-news/) - [Coinbase](https://dailycoin.com/exchanges/coinbase-news/) - [NFTs](https://dailycoin.com/nfts/) - [Metaverses](https://dailycoin.com/tag/metaverses/) - [Op-ed](https://dailycoin.com/oped/) - © 2026 DailyCoin. 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Readable Markdown
Tesla transferred \$773M in Bitcoin before Q3 results, igniting speculation over potential sales. - [![David Marsanic](https://dailycoin.com/wp-content/uploads/2022/11/David-Marsanic-50x50.png)](https://dailycoin.com/author/david-marsanic/ "David Marsanic") Published: October 24, 2024 │ 8:00 PM GMT ![Guy writing a report on Tesla and bitcoin.](https://dailycoin.com/wp-content/uploads/2024/04/tesla_bitcoin_btc_elon-musk_report_web.jpg) *Created by Kornelija Poderskytė from DailyCoin* [![Google News Follow Button](https://dailycoin.com/wp-content/themes/cryptotimes/assets/img/follow-google-news-dailycoin-cryptonews.png)](https://news.google.com/publications/CAAqBwgKMIjkmAswmO6wAw?ceid=IN:en&oc=3) - **Tesla shifts 11,509 BTC, prompting concerns.** - **Q3 earnings reveal the state of crypto holdings.** - **Actual figures are higher than reported.** Tesla’s moves in crypto have long attracted significant attention. Since the company bought its initial \$1.5 million Bitcoins in 2021, it has remained a major crypto investor. However, subsequent sales of its digital assets and recent wallet moves have rattled investors. Sponsored On-chain investigators revealed that [Tesla](https://dailycoin.com/tag/tesla/) recently moved \$773 million in Bitcoin to different wallets. This sparked concerns about the company selling off its remaining digital assets. Subsequent Q3 financial reports shed light on these moves. ## Tesla Reveals Crypto Holdings in Q3 Report Recent financial reports revealed the extent of Tesla’s crypto holdings. On Wednesday, October 23, Tesla released its [financial report](https://digitalassets.tesla.com/tesla-contents/image/upload/IR/TSLA-Q3-2024-Update.pdf) for the third quarter of 2024. The report revealed that the company did not sell its Bitcoin holdings during that quarter. > Tesla ([@Tesla](https://twitter.com/Tesla?ref_src=twsrc%5Etfw)) transferred all 11,509 [\$BTC](https://twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw) (now worth \$773M) to 7 new wallets 4 hours ago after 2 years of dormancy. > > Note that it is likely these are just new wallets belonging to Tesla. > > Elon Musk ([@elonmusk](https://twitter.com/elonmusk?ref_src=twsrc%5Etfw)), CEO of Tesla and a well-known advocate of [\#Bitcoin](https://twitter.com/hashtag/Bitcoin?src=hash&ref_src=twsrc%5Etfw), has said that… [pic.twitter.com/xZqfZZ67On](https://t.co/xZqfZZ67On) > > — Spot On Chain (@spotonchain) [October 16, 2024](https://twitter.com/spotonchain/status/1846364821572477376?ref_src=twsrc%5Etfw) The report indicates that Tesla has \$184 million in digital assets. However, the [actual figure](https://dailycoin.com/why-tesla-reports-its-bitcoin-below-market-value-at-184m/) is certainly higher, closer to \$780 million at current prices. The discrepancy comes from an accounting rule that records crypto assets at “impaired value” or written down to its lowest market price. > Tesla ([@Tesla](https://twitter.com/Tesla?ref_src=twsrc%5Etfw)) transferred all 11,509 [\$BTC](https://twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw) (now worth \$773M) to 7 new wallets 4 hours ago after 2 years of dormancy. > > Note that it is likely these are just new wallets belonging to Tesla. > > Elon Musk ([@elonmusk](https://twitter.com/elonmusk?ref_src=twsrc%5Etfw)), CEO of Tesla and a well-known advocate of [\#Bitcoin](https://twitter.com/hashtag/Bitcoin?src=hash&ref_src=twsrc%5Etfw), has said that… [pic.twitter.com/xZqfZZ67On](https://t.co/xZqfZZ67On) > > — Spot On Chain (@spotonchain) [October 16, 2024](https://twitter.com/spotonchain/status/1846364821572477376?ref_src=twsrc%5Etfw) This report comes after Tesla [moved \$773 million](https://dailycoin.com/musks-tesla-shuffles-bitcoin-in-full-7-wallets-receive-773m/) worth of Bitcoin to seven different wallets, sparking investor concerns. This was despite [Elon Musk](https://dailycoin.com/elon-musk-crypto-history-putting-dogecoin-moon/ "Elon Musk’s Crypto History: The Good, the Bad, and Putting Dogecoin on the Moon") reportedly instructing the company not to sell its digital assets. ## Tesla’s Bitcoin Holdings in the Past Tesla started investing in Bitcoin in 2021 when the company announced that it would purchase \$1.5 billion worth of Bitcoin. At the time, this was one of the biggest corporate investments in crypto. Since then, the company has gradually sold off its crypto assets. The first sale came in Q1 of 2021, when the company sold 10% of its Bitcoin, earning 272 million in profit. Elon Musk claimed that this was part of the liquidity test. According to Musk, the goal of the sale was to see whether the market could absorb that much Bitcoin without significantly impacting its price. Still, in July 2022, Tesla sold 75% of its Bitcoin holdings, reducing the amount from 42,902 BTC to 11,509 BTC. This was at the time when Bitcoin faced major uncertainty. The remaining Tesla’s Bitcoin holdings were worth about \$218 million. Since Bitcoin’s rebound, these holdings have jumped back to around \$780 million. ### On the Flipside - **Tesla’s CEO Elon Musk revealed he personally holds Bitcoin, Ethereum, and a small quantity of Dogecoin.** - **The EV maker used to accept** [**Dogecoin payments**](https://dailycoin.com/elon-musk-suggests-doge-comeback-as-payment-option-for-tesla-merch/) **for its merch. This option disappeared from its website after Elon Musk got sued for allegedly pumping the memecoin.** ### Why This Matters Tesla remains a major holder in Bitcoin, and its moves can significantly impact its price. DailyCoin's Vibe Check: Which way are you leaning towards after reading this article? Market Sentiment 0% Neutral This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.
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AuthorDavid Marsanic
Publish Time2024-10-24 20:00:00 (1 year ago)
Original Publish Time2024-10-24 20:00:00 (1 year ago)
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