BITCOIN

Tesla’s third-quarter financial statement reveals that the electric car company has not sold any of its bitcoin. Its most recent balance sheet shows that Tesla continues to hold bitcoin valued at $184 million. Meanwhile, Tesla CEO Elon Musk has raised concerns about the high-interest rate environment affecting the auto industry. Tesla’s Q3 Earnings Report Tesla (Nasdaq: TSLA) released its third-quarter earnings results on Wednesday. The company reported $23.35 billion in revenue and $1.85 billion in profits, marking declines compared to the previous quarter. Despite its earnings missing Wall Street expectations, the electric car company’s balance sheet still shows net digital assets of $184 million. This is the fourth straight quarter that Tesla has recorded the same value for its digital assets, which mostly consist of bitcoin ( BTC ). Tesla invested $1.5 billion in BTC in Q1 2021 but sold 75% of its holdings in Q2 2022. Musk explained at the time that the company is “certain

Tesla CEO Elon Musk and Dallas Mavericks owner Mark Cuban have jointly filed an amicus brief backing the defendants in a Supreme Court case against the U.S. Securities and Exchange Commission (SEC). “It is important that the SEC not be permitted to pick and choose whether parties are granted their constitutional right to jury trials or are forced to proceed in enforcement proceedings with administrative law judges immune from proper and meaningful oversight,” the lawyers for the billionaires stressed. Elon Musk, Mark Cuban Back Case Against SEC Tesla CEO Elon Musk, Dallas Mavericks owner Mark Cuban, and several others jointly filed an amicus brief to the Supreme Court on Wednesday, expressing support in a case that contests the validity of the U.S. Securities and Exchange Commission (SEC)’s administrative proceedings. The billionaires’ amicus brief was joined by Phillip Goldstein, Nelson Obus, Manouch Moshayedi, and the Investor Choice Advocates Network (ICAN). The Supreme Court i

Renowned billionaire Jeffrey Gundlach, also known as the “Bond King,” has raised concerns over the potential risk to the U.S. dollar’s reserve currency status due to rising national debt. “The future of the U.S. dollar, and possibly out-of-control inflation, depends on getting the budget and spending under control,” Gundlach warned. Jeffrey Gundlach on Future of U.S. Dollar Jeffrey Gundlach, the CEO and chief investment officer of investment management firm Doubleline, has warned that the U.S. dollar’s reserve currency status may be at risk if the United States does not get its spending under control. Gundlach is nicknamed “the Bond King” after he appeared on the cover of Barron’s as “The New Bond King” in 2011. His net worth is currently $2.2 billion, according to Forbes. His firm oversees around $150 billion of assets under management (AUM). Gundlach said in an opinion piece: “Should the Federal Reserve continue to raise rates, which may happen, or should the national debt grow,

Fidelity has submitted an updated proposal for a spot bitcoin exchange-traded fund (ETF) to the U.S. Securities and Exchange Commission (SEC). The asset manager joins other applicants in continued efforts to address regulatory concerns that have stood in the way of approving the investment product. Fidelity Files Updated Spot Bitcoin ETF Prospectus With SEC Financial giant Fidelity has submitted a revised version of its Wise Origin Bitcoin Trust to the U.S. securities regulator. The updated spot bitcoin ETF prospectus seeks to meet SEC requirements which could increase the chances of approval. With the new filing , Fidelity joins other potential issuers that have tried to address the regulator’s concerns in various areas. Invesco and Ark Invest refiled their applications earlier in October. Bloomberg’s James Seyffart views these moves as positive signs. The ETF analyst commented on the latest development in a post on X, formerly Twitter: More proof that potential spot Bitcoin