Tesla_s Bitcoin Investments Maintain $184 Million Position on Balance Sheet in Q2
Tesla maintained its digital asset holdings at $184 million on its balance sheet in the second quarter, despite the rising price of bitcoin. Accounting rules prevent unrealized gains on cryptocurrency from being recorded. Tesla had purchased $1.5 billion worth of bitcoin in February 2021 but later sold about 75% of its stack. CEO Elon Musk expressed openness to increasing bitcoin holdings in the future. Tesla_s digital asset holdings remained unchanged in Q2 2023, with the company having maintained the same level since Q4 2022.
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Tesla_s Bitcoin Investments Maintain $184 Million Position on Balance Sheet in Q2
Tesla maintained its digital asset holdings at $184 million on its balance sheet in the second quarter, despite the rising price of bitcoin. Accounting rules prevent unrealized gains on cryptocurrency from being recorded. Tesla had purchased $1.5 billion worth of bitcoin in February 2021 but later sold about 75% of its stack. CEO Elon Musk expressed openness to increasing bitcoin holdings in the future. Tesla_s digital asset holdings remained unchanged in Q2 2023, with the company having maintained the same level since Q4 2022.