Elon Musk, Who Doesn’t Sell Bitcoin, Talks About FED and Share Buyback!

Tesla announced its 3rd quarter balance sheet yesterday and stated that it did not sell its digital assets.

According to the balance sheet, the value of digital assets held by Tesla is $218 million as of the end of the third quarter. This means that Tesla still has more than 10,000 Bitcoins.

Speaking after the balance sheet, company CEO Elon Musk made important statements.

Vehicle Sales

Although the 3rd quarter revenue came below expectations, Elon Musk stated that the demand for electric vehicles is still at a very high level, the factories are working at full capacity and their expectations for the 4th quarter are high.

“4. There is excellent demand for the quarter. We hope to sell every car we produce. Factories are working at full capacity.”

Share Buyback

Talking about a share repurchase program for 2023, Musk stated that they plan to buy back 5 to 10 billion dollars of shares next year, and this was approved by the board.

FED’s Rate Increases

Speaking about the Fed’s interest rate hikes, Musk drew attention to the recession in Europe and China.

“The real estate market in China is in a recession. There is also a kind of energy-related recession in Europe. North America’s economy is pretty good, even though the Fed has raised interest rates more than necessary, I think they’ll eventually figure it out and bring rates down again.”

Buying Twitter

Hoping to buy Twitter, Musk said: “An asset with incredible potential, its long-term potential is greater than its current value.” said.