Tesla address tagged by Arkham shows Bitcoin holdings increased by 1,789 BTC from last earnings report
Tesla's bitcoin holdings have once again become a topic of discussion in the cryptocurrency community. The cryptocurrency data analysis platform Arkham recently added Tesla's bitcoin wallet tracking function to its dashboard, which shows a balance of 11,509 BTC for the BTC wallet associated with Tesla, an increase of approximately 1,789 BTC compared to the previous report's balance of 9,720 BTC. It is reported that Tesla's schedule for holding and selling bitcoin is as follows: February 2021: Purchased $1.5 billion worth of bitcoin; March 2021: Sold 4,320 bitcoin; 2022: Will sell 29,160 bitcoin; 2023: The balance of 9,720 BTC remains unchanged.
Tesla's Q4 2023 Earnings Report Reveals No Bitcoin Sales or Purchases
Tesla's Q4 earnings report revealed that the company did not make any sales or purchases of Bitcoin during the quarter, and its Bitcoin holdings remained unchanged at approximately 9,720 Bitcoin. This places Tesla as the fourth-largest publicly traded company with a sizable Bitcoin portfolio. Meanwhile, MicroStrategy increased its Bitcoin holdings by 10% in December 2023, with BTC holdings now accounting for more than 70% of its overall stock market value. Bitcoin's recent price decline is attributed to Grayscale Bitcoin Trust redemptions by bankruptcy estates, impacting the value of the top digital currency.
The new Tesla Cybertruck has a lot of new code related to DOGE integration
Tesla has updated its website and may allow customers to use Dogecoin (DOGE) to pay for the new Tesla Cybertruck in the future. This is because when checking the site's code, it was found that there is a lot of new code related to DOGE integration. However, this change has not been officially announced and is currently only provided on the website in the form of encoded information, and DOGE cannot be used for payment at this time.
Tesla Holds on to Bitcoin, Reports Q3 Earnings Without Any Sale of BTC
According to Tesla's Q3 earnings report, the company did not sell any of its Bitcoin holdings in the last three months. As of September 30th, Tesla held around 9,720 BTC worth approximately $275.6 million. The report did not mention any conversion of BTC to fiat currency, indicating that the company did not make any proactive selloff move. Tesla first invested $1.5 billion in Bitcoin in early 2021 and bought 43,000 units at an estimated average price of around $34,000. After selling a portion of its holdings in Q2 2022, Tesla has since maintained its Bitcoin HODLing agenda.
XRP Plummets as Tesla's Alleged Bitcoin Sell-Off and FOMC Minutes Shake Crypto Markets
The crypto market experienced a sharp decline after rumors circulated that Tesla had sold its $377 million Bitcoin position. Additionally, the Federal Open Market Committee's minutes indicated that interest rates would continue to rise to combat inflation, which further negatively impacted the market.
Tesla CFO Zach Kirkhorn Resigns, Vaibhav Taneja Promoted to CFO
Tesla's CFO Zach Kirkhorn has resigned, effective Aug. 4, and will be replaced by Vaibhav Taneja, who will also continue in his role as chief accounting officer. Kirkhorn will remain with the company until the end of the year to ensure a smooth transition. The announcement of Kirkhorn's departure caused Tesla's shares to drop by 2.5%. Kirkhorn had been with Tesla for 13 years and served as CFO for four years, and in his statement, he expressed gratitude towards the company's employees and recognized Elon Musk's leadership role.
Elon Musk Explains Why Dogecoin is His Favorite Cryptocurrency
Elon Musk, the CEO of Tesla, has been known for his support of Dogecoin, a meme cryptocurrency, and its impact on its value. During his appearance at the Wall Street Journal CEO Council Summit in Q2 2023, Musk explained that his love for Dogecoin goes beyond its capabilities in the crypto market and is more related to its humorous nature.
DOGE Adds $1 Billion to Market Cap in a Day as Price Rockets Toward $0.80
Dogecoin experienced a significant price increase of over 10% on July 21, reaching $0.076 and adding $1 billion to its market cap. This surge propelled DOGE to become the sixth-best performing cryptocurrency on daily charts and the eighth largest asset by market worth. While the reason for this rally is unclear, some speculate that it may be related to rumors about Dogecoin's presence in the payment page source code on Tesla's website. However, it has been confirmed that Tesla did not recently add Dogecoin to its source code, but rather it was already present since January 2023.
Tesla Removes Bitcoin from Payment Page, Retains Dogecoin as Payment Option
Tesla has reportedly removed Bitcoin from the source code of its payment page, while Dogecoin remains as a payment option. This comes as a surprise to the crypto community, as Tesla's CEO Elon Musk has been a big supporter of Dogecoin. However, Tesla has not made an official announcement regarding this move. Despite this, Tesla's Bitcoin holdings remain unchanged in Q2 2023.
Elon Musk Comments on Ripple Win in Recent Podcast Episode
Elon Musk, the CEO of Tesla and Twitter, recently praised The All-In Podcast for their discussion on Ripple's recent victory over the SEC. Musk tweeted "Good podcast" in response to the episode, which also brought hope to the crypto community that the SEC's power over US crypto companies and tokens may be limited. Despite his interest in crypto, Musk has never mentioned XRP or the Ripple-SEC case in his tweets, and his main focus in the crypto space is on Dogecoin. Tesla still holds $184 million worth of Bitcoin on its balance sheet as of Q2 2023.
