Tesla's Q2 Bitcoin Holdings Value Surges by 30%, Now Worth $1.2 Billion

On July 24th, based on the latest financial report, the Bitcoin held by Tesla witnessed a 30% price increase during the second quarter of this year. Its current market value is approximately $1.2 billion. This part of the gain was derived from the latest changes in US accounting standards - a new rule favorable to Tesla. According to the data from BitcoinTreasuries.Net, Tesla currently holds 11,509 bitcoins and ranks tenth among public companies globally in terms of holding cryptocurrency assets. The current Bitcoin price is around $118,000, which is a significant increase compared to $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 "being held at the lowest value." Previously, even if Bitcoin soared 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 shows 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.