Tesla's Q2 financial report shows that its Bitcoin holdings have risen to $1.2 billion

PANews reported on July 24 that according to CoinDesk, Tesla (TSLA)'s financial report shows that with the 30% increase in the price of Bitcoin in the second quarter of this year, its Bitcoin holdings are currently worth about $1.2 billion, thanks to the adjustment of US accounting standards on the treatment of digital assets, which is quite beneficial to Tesla. According to BitcoinTreasuries.Net data, Tesla currently holds 11,509 Bitcoins, making it the tenth largest listed company holding Bitcoin on its balance sheet.

Previously, corporate holders were required to report crypto assets at the minimum value during the holding period, which failed to reflect the market recovery. Even if Bitcoin rebounded, the gains were not reflected in the balance sheet. The new standards approved by the Financial Accounting Standards Board of the United States allow companies to report the fair value of cryptocurrency holdings every quarter starting from the first quarter of 2025. Now Tesla can recognize earnings every quarter, allowing shareholders to have a clearer understanding of asset performance.