Tesla’s Bitcoin Holdings Remain Unchanged in Q2
Electirc car maker Tesla, according to the company’s Q2 2024 report, stood pat and did not acquire or dispose of any Bitcoin in the second quarter of the year. The enterprise remains steadfast in its Bitcoin trade as a matter of fact it has been standing on the same ground for the eighth quarter in a row and it still acquires approximately 9,720 Bitcoins which are now valued at approximaltely 640 million dollars. The Bitcoins were obtained at an aggregate cost of about $337 million.
Tesla has sold Bitcoins only once, in the second quarter of 2024 when it placed around 25% of the total holdings on the market, accumulating around $1004 million dollars. First, Tesla spent $1.5 billion on Bitcoin in 2022 as its initial investment.
Tesla Surpasses Revenue Expectations
The electric car manufacturer Tesla reported that its sales of new cars exceeded the company’s set target and it achieved operating revenue more than it had estimated. The automotive leader delivered a total of $25.5 billion in the stunningly short time on the open market and outperformed the expectation of $24.63 billion. Totally, Tesla’s net income under GAAP accounting principles amounted to $1.5 billion, accompanied by a $1.34 billion cash-in-hand inflow with $1.3 billion in total capital investment.
Nevertheless, the company’s earnings were weak for the period when automotive sales did not recover in the second half for the second continuous cycle. The stock dropped by over 8% during the after-hours trade. The firm that was commenting on the fiscal 2021 said it “scored the highest in revenue on the back of the best environment performance of last quarter.” While acknowledging that other car manufacturers have not yet complied with emission standards, the company still made the point of the fact that it “registered the maximum record in the respect of the credits above the table in Q2.”
Delayed Introduction of Robotaxi Service
Furthermore, Elon Musk, the CEO, also informed on a conference meeting that the implementation of the autonomous taxi service Tesla is planning to launch, Robotaxi would which was initially supposed to be released on August 8th, will be delayed.
Scheduled for August 8th, the new release date, instead, is scheduled on October 10th. “I would profoundly be astonished if we cannot make it in the following year,” Musk added aside from admitting at first that he had been “extremely optimistic even to an exaggeration on future fiscal results.”
Musk Pledges $45M to Trump Campaign
Musk has declared that he wants to donate approximately 45 million dollars per month to the new PAC (a political action committee) which backs the ex-president of USA Donald Trump. However, he has missed the opportunity to do so as of the end of June, as per the latest quarterly report. Musk also made a post on X that may lead people to think that the WSJ article is ‘fake news’.
Musk showed his public support to Trump after the insurgent attack at the meeting on July 13. Varying with Trump’s, the crypto party’s following is growing. Trump’s political climate has shifted, and consequently, the popularity of cryptocurrencies among the public has grown. This is the contradiction that was.&The”However, President Trump has seen a dramatic alteration in the way he views cryptocurrencies, despite his previous criticism for scamming Bitcoin in the past. He gives, now, portfolios with a skeptical look a wink and hears – what more sustainable assets can they propose?” indeed the thumbs-up he used to give to them when he was against the imposing of high charges on this way of investment. On June 14, he declared that he would stop the Biden administration’s “war on crypto” if he became president. Furthermore, Trump had once mentioned that he would like the United States to be a dominant force in the Cryptocurrency industry, whereas, he has become the most recent critic of Biden.
A study conducted by Harris Poll had shown that 1 in 3 US voters made the choice of their representative coinciding with his position on cryptocurrencies, the same as US voters. Further, Trump’s ratings have become significant in the political stage, and they have surpassed that of his competitors who intend to stand for the president in the US in 2024. The most recent data that we have shows that the betters strongly believe, with a 69% chance, the former President Donald Trump will win the election!
