Tesla Hasn’t Sold Any Bitcoins in Q2, According to the Latest Earnings Report

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Cryptodnes2024/07/23 22:31

By:Cryptodnes

Elon Musk's Tesla just released its quarterly earnings report,

According to the report , the electric vehicle manufacturer hasn’t sold any of its Bitcoin holdings.

Tesla currently holds $640.86 million in BTC.

The company’s revenue also beat expectations – it registered $25.5 billion during the quarter (LSEG forecasted $24.77 billion).

Swan Bitcoin Suspends Bitcoin Mining Activities

Earnings per share however were disappointing – the report reveals $0.52 per shares (LSEG forecasted. $0.62)

At the time of writing, Bitcoin is trading at $65,750 after a 3.65% price decline in the past 24 hours and has a trading volume of around $36 billion.

While Tesla continues to lead the U.S. electric vehicle market by a significant margin, it is facing increased competition and losing market share.

This shift is partly attributed to its aging range of sedans and SUVs, as well as the effects of CEO Elon Musk’s controversial and politically charged statements on some of its more progressive customers.

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