Key Points
- Tesla’s Q3 earnings report confirms the company’s unchanged Bitcoin holdings at 11,509 BTC, valued at roughly $765 million.
- MicroStrategy outperforms tech giants in Bitcoin holdings, and Bitcoin ETFs may surpass Satoshi Nakamoto’s holdings.
Tesla’s Q3 earnings report has dispelled rumors about the company’s Bitcoin position, affirming that it hasn’t changed this year.
Speculation was rife when Tesla moved almost all of its Bitcoin stash, worth around $760 million, to unknown wallets, leading to fears of possible sell-offs.
Tesla’s Bitcoin Holdings in Q3
Tesla holds a substantial stake in Bitcoin, with 11,509 BTC, valued at about $765 million.
This places Tesla as the fourth-largest Bitcoin holder among publicly traded US companies, trailing MicroStrategy, Marathon Digital Holdings, and Riot Platforms.
Furthermore, Elon Musk’s SpaceX owns 8,285 BTC, worth around $560 million, ranking it as the seventh-largest Bitcoin holder among private firms.
In its Q3 2024 earnings report released on October 23rd, Tesla revealed that it has kept its digital asset investments, with no sales from its $184 million crypto holdings during the quarter.
This is the fifth quarter in a row without any crypto sales.
Other Institutional Players
While Tesla’s Bitcoin holdings have stayed stable, MicroStrategy, led by Michael Saylor, has stood out by outpacing major tech companies, including Nvidia, Tesla, and Microsoft, in July.
By September, MicroStrategy had further cemented its market position, surpassing heavyweights like Apple, Microsoft, NVIDIA, and Amazon.
Eric Balchunas, a top ETF analyst at Bloomberg, even predicted that Bitcoin ETFs might potentially surpass Satoshi Nakamoto, Bitcoin’s elusive creator, as the largest holders of the cryptocurrency by Christmas.
As per the latest data from CoinMarketCap, Bitcoin is trading at $67,371.08, showing a 1.68% increase over the past 24 hours.
