Crypto investors are in a crucial week with major companies releasing their earnings reports. Tesla has just published its earnings for the last quarter. Previous reports showed BTC trading data, which often led to significant volatility. However, this time was different.
Tesla Announces Earnings Report
Elon Musk, who has repeatedly stated that he is no longer interested in crypto, has significantly reduced his holdings over the past two years. However, his companies still hold some BTC. Today’s earnings report was closely monitored by investors against the possibility of new purchases.
Whether the company has sold any assets can be tracked in real-time because Arkham compiles these wallets and publishes them on its platform. Investors hoping for a new rise due to unknown address purchases were disappointed after the report was published. Tesla did not make any new BTC or other cryptocurrency purchases. Bitcoin vehicle sales were halted without consulting the board, and it seems Elon Musk remains committed to distancing from cryptocurrencies.
BTC price fell about $200 after the report, but it did not trigger a major loss. Here are the details of the report:
- Revenue: $21.3 Billion (Estimate: $22.3 Billion)
- Tesla to accelerate the launch of more affordable models.
- Product updates may lead to less cost reduction than expected.
- Currently working on a vehicle summoning feature.
