Tesla, the leading electric car manufacturer headed by billionaire Elon Musk, has confirmed that it still holds Bitcoin.
This comes after the community began speculating that Tesla might be offloading its Bitcoin holdings following a series of recent transfers to unknown wallets that were recorded by blockchain data firm Arkham Intelligence.
However, it later turned out that these were just wallet rotations. The community’s fears about Tesla emptying its wallets were overblown.
Tesla (TSLA) stock rose more than 12% in premarket trading after the company reported better-than-expected earnings.
“So it’s worth noting that Tesla is profitable despite a very tough automotive environment, and this quarter is actually a record third quarter for us,” Musk said during the company’s earnings call.
The company said it is on track to launch its new car offering in the first half of 2025.
Musk also said the company is offering ride-hailing capabilities to its employees in San Francisco. “So you can actually, using the development app, request a ride and it will take you anywhere in the Bay Area. We have a safety driver right now but it’s not necessary,” he said.
According to Tesla's CEO, the ride-hailing service is on track to launch to the public next year in California and Texas.
Bitcoin is currently trading at $66,851 after paring recent losses.