Tesla's Bitcoin holdings remained unchanged in Q3 2024, and Tesla's net profit for Q3 was $2.167 billion

Tesla (TSLA) did not sell its Bitcoin holdings worth $763 million in the third quarter of 2024. According to the latest financial report, the company neither increased nor decreased its holdings. However, for the first time this quarter, Tesla transferred its Bitcoin assets from public wallets, involving a total of $760 million. According to Arkham Intelligence data, Tesla made several large transfers including transferring $75.18 million, $76.08 million and $77.16 million respectively to anonymous wallets without any sales or conversions into other cryptocurrencies occurring. Since reducing its holdings by 75% in the second quarter of 2022, Tesla has not further sold off Bitcoin. In addition, SpaceX under Elon Musk also holds about $560 million in Bitcoin; together with Tesla they hold approximately 19,788 Bitcoins with a total market value of around $1.3 billion.

According to Tesla's third-quarter financial report for 2024 released by the company itself showed that their quarterly profits exceeded analysts' expectations and it is expected that car deliveries will "slightly increase" this year causing shares of world’s largest electric vehicle manufacturer surged more than 9% after hours trading . The financial report shows that Tesla's net profit for Q3 was at US$2.167 billion which was higher than an expected US$1.78 billion while gross margin stood at 19%, above an anticipated figure of17%. Revenue grew by8% reaching US$25billion slightly below average expectation set at US$25billion.Tesla stated: "Despite worsening macroeconomic conditions we expect slight growth in car deliveries for year." Furthermore cost per vehicle sold dropped down to record low level standing roughly atUS$35k.Tesla still expects production on cheaper models begin during first half-year periodof2025.