Tesla announced that it didn't sell any Bitcoin holdings during the third quarter.

This continues a trend for Tesla, marking five consecutive quarters where the company has not sold any of its cryptocurrency holdings, a move that reinforces its ongoing commitment to maintaining its crypto assets despite market fluctuations.

In terms of overall performance, Tesla’s financials for the third quarter show a revenue of over $25.18 billion, a slight dip from Q2’s $25.5 billion. However, the company saw a notable jump in net income, which increased to approximately $2.18 billion from Q2’s $1.5 billion. This surge in profit, despite the modest decline in revenue, reflects strong operational efficiencies and cost management within the company.

Tesla’s relationship with cryptocurrency has been a point of interest for the broader financial market since 2021 when the company first made headlines by purchasing $1.5 billion worth of Bitcoin (BTC). This major acquisition cemented Tesla's position as a pioneer among publicly traded companies embracing digital assets, drawing the attention of both crypto investors and the general market. Since then, Tesla’s Bitcoin holdings have been closely watched by market participants, who see the company’s actions as a potential indicator of institutional interest in digital assets. Tesla’s behavior can also serve as a proxy for broader market trends, especially with regard to selling pressure, as any large-scale move by the company could impact Bitcoin’s price.

On October 15, the on-chain analytics firm Arkham Intelligence reported some activity involving wallets believed to belong to Tesla. The firm noted that Bitcoin was being transferred from a wallet that had been dormant since 2022 to an unknown wallet. Despite these movements, Arkham's analysis showed that Tesla-controlled wallets still held a significant amount of Bitcoin—11,509 BTC, valued at around $750.7 million at the time of reporting. This data suggests that while Tesla may be reorganizing its crypto assets, it continues to hold a substantial amount of Bitcoin, with no signs of liquidation.

Tesla’s most recent financial disclosures support Arkham Intelligence's findings, confirming that the company has not sold any of its cryptocurrency holdings during the quarter. This reinforces Tesla's long-term stance on digital assets, even as other corporations have remained cautious or liquidated their positions.

In other news, on October 10, Elon Musk revealed Tesla’s plans for self-driving Robotaxis during an event in Hollywood, California. Musk confidently presented these autonomous vehicles as the future of transportation, emphasizing their potential to save lives by reducing accidents caused by human error. He outlined a vision where self-driving taxis could revolutionize urban transport, reducing congestion and lowering traffic-related fatalities.

However, despite Musk’s bold vision, investors were less optimistic about the company's prospects in this area. Following the Robotaxi announcement, Tesla's stock price took an 8% hit, indicating skepticism from the market. Investors may be concerned about the technical and regulatory challenges that self-driving vehicles still face, or they may be questioning the timeline for these innovations to be profitable. Regardless, the market’s immediate reaction reflects uncertainty around Tesla’s ambitious push into autonomous driving.