%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment Electric vehicle maker Tesla (NASDAQ: $TSLA ) has posted an $80 million U.S. profit on its Bitcoin (CRYPTO: $BTC ) holdings for this year's third quarter. Tesla continues to hold 11,509 BTC on its balance sheet, which is currently valued at $1.35 billion U.S. The rise in Bitcoin's price over the summer months allowed the company run by Elon Musk to record an $80 million U.S. gain on its holdings for the July through September period. Bitcoin hit several all-time highs above $124,000 U.S. in August. However, the price of the largest cryptocurrency by market capitalization has declined so far in October. New accounting rules require Tesla to recognize and report its Bitcoin gains or losses each quarter. The Bitcoin profit was disclosed along with Tesla's third-quarter financial results. The Q3 print was mixed, with the company's profit falling short of Wall Street's forecasts while its sales beat estimates. In addition to it Bitcoin holdings, Tesla said it had cash and equivalents of $41.6 billion U.S. at the end of the third quarter. TSLA stock is down 3% after its latest financial results were disclosed. However, the company's share price is up about 15% year-to-date and trading at $438.97 U.S. Bitcoin is currently trading at $109,250 U.S.