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Tesla’s third-quarter steadiness sheet reveals that the electrical automobile firm remains to be holding $218 million in bitcoin. CEO Elon Musk claims that Tesla might be price greater than Apple and Saudi Aramco mixed. The manager can be “excited” about buying Twitter.
Tesla Inc. (Nasdaq: TSLA) launched its third-quarter earnings outcomes Wednesday. The corporate’s Q3 monetary statements present that Tesla didn’t promote any bitcoin throughout the quarter. Its steadiness sheet nonetheless reveals $218 million in digital property, unchanged from the second quarter.
On the time of writing, the value of bitcoin is $19,188 based mostly on information from Bitcoin.com Markets. Tesla purchased $1.5 billion price of the cryptocurrency in early 2021 and has not bought any extra since. The corporate offered about 75% of its BTC holdings within the second quarter of this yr.
Within the third quarter, Tesla’s income rose to $21.5 billion, in contrast with analysts’ projections of $22.1 billion. Revenue excluding some gadgets rose to $1.05 a share, exceeding the $1.01 common of estimates compiled by Bloomberg.
Through the firm’s Q3 earnings name, Musk stated Tesla might be price greater than the mixed worth of Apple (Nasdaq: APPL) and Saudi Arabian Oil Firm (Saudi Aramco) sooner or later. The 2 are at present the world’s largest firms by market cap. “For the primary time I see a means for Tesla to be roughly twice the worth of Saudi Aramco,” Musk stated, elaborating:
That is the primary time I’ve seen that potential.
On the time of writing, Saudi Aramco’s market cap is $2.09 trillion whereas Apple’s market cap sits at $2.31 trillion. Tesla’s market cap is $695.76 billion.
Musk additionally shared his financial outlook throughout the name. He defined that “China is experiencing a recession of kinds,” principally within the property markets, and “Europe has a recession of kinds pushed by vitality.” The Tesla govt continued:
North America’s in fairly good well being, though the Fed is elevating rates of interest greater than they need to, however I feel they’ll finally understand that and convey them down once more.
Just lately, Financial institution of America CEO Brian Moynihan and JPMorgan & Chase CEO Jamie Dimon additionally stated that the U.S. financial system is doing nicely and shoppers are in fine condition regardless of inflation. Over the weekend, President Joe Biden stated the U.S. financial system is “sturdy as hell.”
The Tesla CEO additionally commented on his Twitter acquisition. He stated:
I’m excited in regards to the Twitter state of affairs … Myself and different traders are clearly overpaying for Twitter proper now … [However] the long-term potential for Twitter in my opinion is an order of magnitude higher than its present worth.
Musk lately revealed that purchasing Twitter accelerates the creation of “X, the all the pieces app.” He initially tried to again out of shopping for the social media platform however reversed course this month and determined to undergo with the acquisition. The court docket has given Musk till Oct. 28 to shut the acquisition to keep away from a trial.
What do you concentrate on the feedback by Elon Musk? Tell us within the feedback part under.
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Zagreb, Croatia–(Newsfile Corp. – January 12, 2025) – ZIUM, a cutting-edge agency founded to tackle some of the most pressing challenges in social media and digital marketing, is now officially open for business. Specializing in Instagram username claims, account unbans, and cryptocurrency marketing, ZIUM has positioned itself as a trusted partner for individuals and businesses seeking innovative solutions in the digital age.
The agency operates at the intersection of technology, social media, and blockchain marketing, empowering clients to unlock their full potential online. With a dedicated team of experts and a results-driven approach, ZIUM is redefining the way people navigate the ever-changing online landscape.
ZIUM
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ZIUM’s services address real-world challenges in today’s digital ecosystem. Instagram, one of the largest and most influential social platforms, has become a critical tool for personal branding, business promotion, and community engagement. However, issues such as unavailable usernames or unfair account suspensions can hinder growth and cause frustration. ZIUM steps in to provide solutions that are fast, efficient, and tailored to each client’s needs.
Additionally, ZIUM excels in cryptocurrency marketing, offering projects and startups a strategic edge in the fast-paced blockchain industry. By combining deep knowledge of crypto trends with cutting-edge marketing strategies, the agency helps blockchain projects stand out in an increasingly crowded market.
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Instagram Username Claims
In the crowded social media space, having the perfect Instagram username can make all the difference. Whether it’s for a brand, influencer, or business, ZIUM specializes in acquiring sought-after usernames to align with clients’ goals and identities. The agency handles the process from start to finish, ensuring a smooth and hassle-free experience.
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Donald Trump is making news once more, but this time it’s not for political reasons; it’s about cryptocurrency. As he prepares to return as the 47th President of the United States, Trump will become the first sitting president to own meme currencies, a decision that has stirred both enthusiasm and skepticism in the crypto community.
Recent sources claim that Trump’s crypto wallet consists largely of meme coins and is valued roughly $8 million. Among the assets are $1.5 million in a meme currency with Trump-themed design and $5.5 million in TROG tokens.
In addition, he has about 1.3 billion GUA coins, which amounts to nearly $400,000, and $167,000 in TRUMPIUS tokens. This is a first of its kind, where Trump becomes an oddity in the world of politics and cryptocurrency, considering his earlier reluctance towards digital assets.
DONALD J. TRUMP WILL BE THE FIRST SITTING US PRESIDENT TO HOLD MEMECOINS pic.twitter.com/ODlNXDaKIT
— Arkham (@arkham) January 10, 2025
Trump’s journey into the crypto world is notable. He had been a strong critic of Bitcoin and other cryptocurrencies, calling them scams. But that all changed in 2024 when he started publicly endorsing Bitcoin and speaking out for the right to own it. That’s a broader trend among politicians, who are increasingly recognizing the potential of cryptocurrencies and their growing popularity among voters.
Trump’s financial success in the digital sphere was also aided by his venture into non-fungible tokens (NFTs) on Ethereum. Trump reportedly made a good living from these endeavors, and he currently owns roughly 496.77 ETH, which is worth about $1.6 million.
Many people are eager to see how Trump’s administration will regulate cryptocurrencies now that he is back in office. A possible change toward a more advantageous regulatory climate for digital assets is hinted at by the nomination of important individuals like David Sacks as “Crypto Czar” and Paul Atkins as SEC chair. This could result in more precise rules for investors and businesses involved in the cryptocurrency industry.
Donald Trump. Image: Ronda Churchill/Reuters
The policies by Trump are already changing market dynamics as everybody is anxiously awaiting them. During this time when Bitcoin hit a record high of $108k, while meme coins surged, analysts still feel that Trump could make the year 2025 a major turning point in cryptocurrencies.
The rise of Trump-owned meme coins is indicative of a broader cultural shift among younger investors who are fed up with established financial institutions. This combination of the political influence of Trump and the speculative nature of meme coins puts a scenario under which political events could significantly affect cryptocurrency markets. Thus, while the investors go about this, they are not ignorant of the volatility that is usually associated with meme coins.
Featured image from Fortanix, chart from TradingView
Scammers stole millions of dollars in cryptocurrency from remote job seekers in an elaborate scheme. New York Attorney General Letitia James has filed a lawsuit to recover over $2 million that she said was stolen from New Yorkers and others nationwide.
Scammers used unsolicited text messages to lure victims with promises of flexible, well-paying remote work opportunities. They claimed the job involved reviewing products online to generate market data. However, victims were told to open cryptocurrency accounts and maintain balances matching the price of products they were reviewing.
While victims believed they would receive their investments plus commissions, the funds were instead transferred into the scammers’ crypto wallets. The fake product reviews took place on a fraudulent website created as part of the scheme.
The lawsuit details seven people who were scammed. One victim, a New Yorker, lost over $100,000 while another victim from Florida lost over $300,000. These cases show the significant financial and emotional impact on the victims.
James’ office, working with Queens District Attorney Melinda Katz and her cryptocurrency unit, traced the stolen funds to specific digital wallets. Over $2 million in cryptocurrency has been frozen, ensuring it can be returned to victims.
“Deceiving individuals seeking remote work is cruel and unacceptable,” said James. “We’re committed to holding scammers accountable and recovering stolen funds.”
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