Tesla’s Crypto Clout Q3 2023 Earnings Report Reveals Bitcoin Still in the Driver’s Seat

Tesla's Q3 2023 Earnings Report Reveals Continued Bitcoin Holdings

It’s been five quarters, folks, and Tesla Inc (NASDAQ: TSLA) has yet to make a move on its Bitcoin (BTC) holdings. Talk about holding steady! I mean, seriously, they must have the patience of a saint. As the saying goes, “Hodl till you waddle,” right?

According to Tesla’s Q3 2023 report, released just the other day, they still have a whopping $184 million worth of digital assets in their possession. That’s no small change! It’s like they’re playing monopoly with real money.

But here’s the kicker: Tesla has been making it rain in the artificial intelligence (AI) department. They’ve been splurging on their AI ambitions like a kid in a candy store. They claim to have “more than doubled the size” of their computing power for AI projects. That’s right, folks, bigger is better. I mean, who needs a regular computer when you can have a supercomputer? It’s like going from a tricycle to a Ferrari!

And get this, they even have a humanoid robot named Optimus. I can’t help but imagine Optimus Prime from Transformers strutting down the hallways of Tesla’s headquarters. But here’s the twist: Tesla wants to train Optimus using AI instead of coding. Talk about shifting into high gear! It’s like teaching your dog to drive a car. You might end up with a traffic violation or two, but hey, it’s all in the name of progress!

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And let’s not forget about Tesla’s Research and Development (R&D) department. They’re putting their money where their heart is, investing a cool $1.16 billion in R&D expenses in just the last quarter alone. That’s a 58% jump from the previous year. It’s like they’re saying, “Move over, Tony Stark, we’re the real geniuses here!”

But hold your horses, folks. Tesla’s Q3 earnings didn’t exactly hit it out of the ballpark. They narrowly missed the estimates, like a batter swinging and missing by a hair. Their profits were $23.35 billion, just shy of the estimated $24.38 billion. And their reported earnings per share (EPS) of $0.66 fell short of expectations. It’s like getting a participation trophy when you were hoping for the gold.

To top it all off, Tesla shares are down nearly 4.78% on the day. Ouch! But hey, it’s all part of the rollercoaster ride, right? Buckle up, because the digital asset market is never short on surprises.

So, what do you think, dear investors? Will Tesla ever make a move on their Bitcoin holdings, or are they content with their AI and R&D adventures? Share your thoughts in the comments below. And remember, in the world of digital assets, anything is possible. Keep calm and hodl on!

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