Tesla Confirms It Still Holds Bitcoin

Tesla, the leading e-car manufacturer helmed by centibillionaire Elon Musk, has confirmed that it continues to hold Bitcoins. 

This comes after the community started speculating about Tesla potentially dumping its Bitcoin holdings following a series of recent transfers to unknown wallets that were logged by blockchain data firm Arkham Intelligence. 

However, it later turned out that these were just wallet rotations. The community's concerns about Tesla emptying its wallets were overblown. 

Tesla's (TSLA) stock is up more than 12% in premarket trading after the firm reported better-than-expected earnings.  

"So, it is notable that Tesla is profitable despite a very challenging automotive environment, and this quarter actually is a record Q3 for us," Musk said during the company's earnings call.  

The company said that it was on track to launch its new offering of vehicles in the first half of 2025. 

Musk has also said that the company is offering ride-hailing capabilities for its employees in San Francisco. "So, you can actually, with the development app, you can request a ride and it will take you anywhere in the Bay Area. We do have a safety driver for now but it's not required to do that," he said. 

According to the Tesla CEO, the ride-hailing service is on track to be rolled out to the public next year in California and Texas.

Bitcoin is currently trading at $67,351 after paring recent losses.