Elon Musk’s Tesla Records $80 Million Paper Profit On Bitcoin In Q3, Keeps Holdings Intact

Tesla Inc. (NASDAQ:TSLA) held on to its Bitcoin (CRYPTO: BTC) for another quarter, reporting its second consecutive paper profit from cryptocurrency holdings.

Bitcoin Brings In Gains For Tesla In Q3

Tesla held $1.315 billion in digital assets as of Sept. 30, an increase of over 6% from the previous quarter, according to the company’s earnings report posted after the market close.

That said, the company’s paper profits from its cryptocurrency investments stood at only $80 million, marking a sharp decline from $284 million in the second quarter.

Tesla does not publish a breakdown of its cryptocurrency holdings. However, on-chain analytics firm Arkham Intelligence 

Full story available on Benzinga.com