Coin World News Report:
American car manufacturer Tesla announced its third-quarter earnings on October 23rd. In the report, the company revealed that it holds $184 million worth of digital assets and has not liquidated its cryptocurrency holdings. Tesla also disclosed that its third-quarter revenue was $25.18 billion, slightly lower than the $25.5 billion in the second quarter.
Recent on-chain data from blockchain analytics firm Arkham Intelligence shows that Tesla’s cryptocurrency wallet, which had been inactive for two years, has become active again. The wallet was involved in a series of transactions, including test transfers, with 11,500 bitcoins being transferred to an unknown wallet.
These transfers have sparked controversy in the cryptocurrency industry. Many believe that the company is preparing to liquidate its crypto assets, while others speculate that the wallet may have been hacked.
The third-quarter report confirms that Tesla still holds 100% of its bitcoins.
On October 23rd, Tesla released its third-quarter earnings report, revealing that it still holds cryptocurrency assets. The balance sheet highlights that the electric car manufacturer still holds digital assets worth $184 million and has not liquidated any crypto assets in the past five consecutive business quarters.
According to Arkham Intelligence, the wallet associated with the company holds 11,509 bitcoins, which is valued at approximately $772,976,279 based on the current market price at the time of writing. The blockchain analytics company believes that the recent transfers witnessed last week were wallet rotations executed by the company for security purposes. The company also believes that these assets are still being held by Tesla.
