Bitcoin
Tesla did not sell Bitcoin holdings despite falling Q1 profits
The largest electric vehicle (EV) manufacturer, Tesla, has released its financial report for the first quarter of 2024 with no signs of selling any of its Bitcoin (Bitcoin) holdings while its total revenue plummeted.
According to report, Tesla’s total revenue decreased by 15.3% between the fourth quarter of 2023 and the first quarter of 2024 – falling from $25.1 billion to $21.3 billion. The company’s total gross profit fell from $4.4 billion to $3.6 billion over the past two quarters.
However, despite the decrease in revenue, Tesla has not sold any of its 9,720 BTC holdings, according to data from Bitcoin Treasuries, – worth around $646 million at the time of writing.
Data from Arkham Intelligence shows that Tesla has a total of 11,509 Bitcoins, worth more than $765 million at the time of reporting.
Tesla BTC Holdings | Source: Arkham Intelligence
The EV maker is currently the third-largest Bitcoin holder after MicroStrategy and Marathon Digital Holdings, with 214,245 BTC and 17,381 BTC, respectively.
By crypto.news report in March, total Bitcoin holdings of Tesla and SpaceX surpassed the $1.3 billion mark combined. SpaceX also holds onto its 8,285 BTC, currently valued at $550 million.
As the Tesla report came in, Bitcoin has gained 0.4% in the last 24 hours and is trading at $66,500 at the time of writing. The asset recorded an intraday high of $67,148 earlier today. Bitcoin’s daily trading volume, however, decreased by 3.8% to reach $23.8 billion.
BTC Price – April 24 | Source: Negotiation Vision
Bitcoin
‘This is huge’ — Billionaire Mark Cuban issues ‘incredible’ Bitcoin and crypto prediction amid price slump
Bitcoin
Bitcoin
came back with a vengeance this year when former President Donald Trump Cryptocurrency boosts US presidential election in November with ‘revolutionary’ plan.
The price of bitcoin has surged to more than its all-time high in recent months, surpassing $70,000 per bitcoin and triggering a wave of mega-optimistic predictions about the price of bitcointhough it fell again this week, falling below $65,000 after the Federal Reserve kept interest rates steady.
Now, as Elon Musk suddenly breaks his silence on bitcoin and cryptocurrenciesBillionaire investor Mark Cuban called a California plan to digitize 42 million car titles using blockchain an “incredible step forward” and “huge” for cryptocurrencies.
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Mark Cuban, famous Shark Tank investor and billionaire owner of the NBA team Dallas Mavericks, has… [+] called a cryptocurrency update “amazing” amid bitcoin’s price slump.
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The California Department of Motor Vehicles (DMV) has digitized 42 million car titles using blockchain, it was reported by Reuters, through technology company Oxhead Alpha on the Avalanche blockchain and designed to detect fraud and facilitate the securities transfer process.
“This is an incredible development for crypto,” Cuban, best known as an investor on TV’s Shark Tank and owner of the Dallas Mavericks NBA team, posted on X, joking that U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler could sue the state as part of his hostility toward cryptocurrencies and blockchain technology.
“The reason this is huge for crypto is because people who hold the tokens will have an app with an Avalanche wallet,” Cuban said. “Tens of millions of Californians having and using a crypto wallet in the next five years, or however long it takes, normalizes the use of wallets and crypto.”
John Wu, president of Avalanche developer Ava Labs, told Reuters that California’s DMV is “creating a wallet that you can download on your phone.”
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Bitcoin’s price has rallied this year, triggering a wave of bullish bitcoin price predictions from… [+] people like billionaire Mark Cuban.
Forbes Digital Assets
Last month, Cuban predicted that if the US dollar falls as the global reserve currency, bitcoin could become “a global ‘safe haven’” and a “global currency.” potentially sending the price of bitcoin to a much higher level.
According to Cuban, bitcoin could become what its most ardent supporters “envision” — a means “of protecting our economies… This is already happening in countries facing hyperinflation.”
The price of bitcoin has skyrocketed over the past year, largely due to the world’s largest asset manager, BlackRock, leading a bitcoin attack on Wall Street.
Bitcoin
MicroStrategy’s Cash Flow Amid Bitcoin Rally Raises Some Eyebrows
Analysts are starting to pay more attention than usual to Bitcoin-proxy’s underlying enterprise software business MicroStrategy Inc.
How to better invest cash generated from operations is what originally prompted co-founder and CEO Michael Saylor to turn to Bitcoin four years ago. Since then, the Tysons Corner, Va.-based company has adopted a two-pronged strategy of investing in the cryptocurrency instead of traditional assets like short-term Treasuries and ramping up its software operations.
Bitcoin
Large Bitcoin (BTC) Holders Added $5.4 Billion Worth of BTC in July, Data Shows
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Bitcoin
Bitcoin (BTC) Hits Six-Week High After Trump’s Pro-Crypto Speech
Bitcoin has retreated from a six-week high as investors shift their focus to speculation the U.S. may sell seized tokens just days after Donald Trump vowed to create a government stockpile of the cryptocurrency if he is elected president again.
The US transferred $2 billion worth of Bitcoin to a new digital wallet address on Monday, blockchain research firm Arkham said in a publish on social media platform X. Market analysis firms have speculated that the tokens are from the Silk Road marketplace, where customers used virtual currencies to buy illegal drugs and hacking tools before it was shut down.
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