Tesla's Q2 Bitcoin holdings increased by 30% in the second quarter and are now worth $1.2 billion

Tesla's bitcoin holdings rose 30% in the second quarter of this year, and the current market value is about $1.2 billion. This part of the gain is due to the latest changes in US accounting standards - a new regulation that is favorable to Tesla.

According to BitcoinTreasuries data, Tesla currently holds 11,509 bitcoins, ranking tenth among listed companies holding crypto assets in the world. The current price of Bitcoin is about $118,000, a sharp increase from $83,000 on April 1.

Previously, the US Financial Accounting Standards Board (FASB) approved a new rule that allows companies to report their crypto assets at fair market value every quarter starting in the first quarter of 2025. This change replaces the previous conservative practice of "recording at the lowest value". Previously, even if Bitcoin rebounded during the holding period, the company could not reflect the gains in the balance sheet.

Now, Tesla's Bitcoin appreciation can be reflected on a quarterly basis, providing shareholders with a clearer view of asset performance. The financial report also showed that Tesla's revenue this quarter was US$22.5 billion, higher than analysts' expectations of US$22.3 billion; earnings per share were US$0.40, in line with market expectations.