According to Foresight News, Tesla's recent financial report reveals that the value of its Bitcoin holdings has increased to $1.2 billion, following a 30% rise in Bitcoin prices during the second quarter. The company currently holds 11,509 BTC. Additionally, Tesla reported second-quarter revenue of $22.5 billion, surpassing analysts' expectations of $22.3 billion, with earnings per share at $0.40.
Starting from the first quarter of 2025, Tesla will benefit from new accounting rules set by the Financial Accounting Standards Board (FASB). These rules will allow the company to mark its cryptocurrency assets at market value each quarter, rather than at the lowest value. This change will enable Tesla to recognize Bitcoin gains quarterly, providing shareholders with a clearer financial outlook.
