Tesla Q2 financial report shows that its Bitcoin holdings value has risen to $1.2 billion

According to CoinDesk, Tesla's financial report shows that with a 30% increase in Bitcoin prices in the second quarter of this year, its holdings of Bitcoin are currently worth approximately $1.2 billion, thanks to adjustments in US accounting standards for the treatment of digital assets, which is favorable for Tesla. According to BitcoinImprovements. Net data, Tesla currently holds 11509 bitcoins, making it the tenth largest listed company on its balance sheet to hold bitcoins. Previously, corporate holders were required to report their encrypted assets at the minimum value of the holding period, which could not reflect market recovery. Even if Bitcoin rebounded, the returns were not reflected on the balance sheet. The new standards approved by the Financial Accounting Standards Board in the United States allow companies to report the fair value of their cryptocurrency holdings on a quarterly basis starting from the first quarter of 2025. Now, Tesla can recognize earnings on a quarterly basis, providing shareholders with a clearer understanding of asset performance.