Electric automotive giant Tesla, which holds a large amount of Bitcoin (BTC), will soon announce its third quarter earnings report.
The report is expected to be announced in the minutes after 23:00 Türkiye time. (20:00 UTC+0)
According to Onchain data, Tesla had $184 million in digital assets in its last earnings report on June 30. At the last report, the company did not sell any BTC.
In July 2022, the company announced that it had 42,902 BTC in hand and sold approximately 75% of it, triggering a sudden sales wave in the BTC price.
Tesla first purchased Bitcoin in February 2021.
Tesla shares have underperformed the market over the past three months. Investors are hoping that the electric vehicle maker’s third-quarter earnings, due to be released after the stock market close on Wednesday, may correct this situation.
Wall Street expects Tesla to generate $24.16 billion in revenue this quarter, up 13.6% from a year ago.
Tesla was accepting BTC for its cars at one point. However, the company removed the payment option with BTC, citing environmental concerns.
*This is not investment advice.
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Source: https://en.bitcoinsistemi.com/watch-out-teslas-earnings-report-is-just-around-the-corner-critical-moments-for-bitcoin/