Despite selling about 75% of its Bitcoin holdings in Q2, Tesla continues to hold its remaining BTC stash.
According to Musk, the buyback would be between $5 billion and $10 billion, depending on the board’s approval.
Meanwhile, the car manufacturer recorded a net income of $3.33 billion, more than twice from Q3 2021, while automotive revenue increased by 55% from last year’s quarter. The company also recorded revenues of $21.45 billion, which is lower than the expected $21.96 billion.Musk believes his company can surpass Apple’s current market cap in the future.
“I’m of the opinion that we can far exceed Apple’s current market cap. In fact, I see a potential path for Tesla to be worth more than Apple and Saudi Aramco combined. That doesn’t mean it will happen or will be easy,” he stated.
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