Markets, Tesla, Bitcoin, Elon Musk, News Tesla doesn’t appear to have offered any digital belongings within the final quarter.
Tesla (TSLA) nonetheless holds virtually $1 billion in bitcoin, based on the automaker’s latest earnings report.
The electrical automobile agency reported digital asset holdings value $951 million as of March 31, down from $1.076 billion on Dec. 30. Tesla at present holds 11,509 bitcoin in its stability sheet, based on Bitcoin Treasuries data.
The change is nearly definitely attributable to bitcoin’s worth depreciating between the 2 quarters. Data from Arkham Intelligence indicates that Tesla didn’t carry out any transactions within the final three months. Arkham marks Tesla’s holdings as being at present value $1.049 billion.
A new rule from the Financial Accounting Standards Board (FASB) requires company holders of digital belongings to start marking these belongings to market every quarter.
Tesla additionally reported $19.34 billion in income for the primary quarter of the yr; analysts had anticipated the carmaker to rake in $21.37 billion.
The TSLA shares have been up greater than 2% in after-hours buying and selling.
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