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Tesla's Q2 Bitcoin Holdings Value Surges by 30%, Now Worth $1.2 Billion
BlockBeats News, July 24th, according to the latest financial report, Tesla's held Bitcoin saw a 30% price increase in the second quarter of this year, with a current market value of approximately $1.2 billion. This part of the gain benefited from the latest changes in U.S. accounting standards—a new rule favorable to Tesla.
According to BitcoinTreasuries.Net data, Tesla currently holds 11,509 bitcoins, ranking tenth among public companies globally holding cryptocurrency assets. The current Bitcoin price is around $118,000, a significant increase from $83,000 on April 1st.
Previously, the Financial Accounting Standards Board (FASB) approved a new rule allowing companies to report their cryptocurrency holdings at fair market value every quarter starting from the first quarter of 2025. This change replaced the previous conservative approach of "held at the lowest value." Previously, even if Bitcoin surged in value during the holding period, the company could not reflect the gains on the balance sheet.
Now, Tesla's Bitcoin appreciation can be reflected quarterly, providing shareholders with a clearer view of asset performance. The financial report also indicates that Tesla's revenue this quarter was $22.5 billion, exceeding analysts' expectations of $22.3 billion; earnings per share were $0.40, in line with market expectations.
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