Tesla's Bitcoin Holdings Reach $1.2 Billion, Q2 Revenue Hits $22.5 Billion

According to Foresight News, Tesla's financial report shows that the value of its Bitcoin holdings reached $1.2 billion due to a 30% increase in Bitcoin prices in the second quarter. The company currently holds 11,509 BTC. In addition, its second-quarter revenue was $22.5 billion, surpassing analysts' expectations of $22.3 billion, with earnings per share of $0.40. Benefiting from the new FASB accounting rules, starting from the first quarter of 2025, the company will be able to mark crypto assets to market value each quarter instead of the lowest value. This change allows Tesla to recognize Bitcoin gains quarterly, providing shareholders with a clearer view.