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Tesla Booked $80M Profit on Bitcoin Holdings in Q3

Tesla (TSLA) continued to hold 11,509 BTC, valued at around 1.35billionasoftheendofthethirdquarter(valuedsomewhatlessasoftoday).Theriseinbitcoinsvalueduringthethirdquarterallowedthecompanytobookan1.35 billion as of the end of the third quarter (valued somewhat less as of today). The rise in bitcoin's value during the third quarter allowed the company to book an 80 million gain on its holdings. For perspective, adjusted EBITDA for the quarter was 4.3billionandthecompanywassittingontotalcashandequivalentsof4.3 billion and the company was sitting on total cash and equivalents of 41.6 billion as of the end of the quarter. The electric vehicle manufacturer reported third quarter revenue of $28.1 b ...