Tesla Bitcoin Holdings for Q2 Don Land $1.2B with Gain of $284M
Tesla Bitcoin dem got high reach about $1.2 billion for Q2 after di value of dem 11,509 BTC climb from about $83,000 to $107,000 per coin, wey bring $284 million unrealized gain based on new FASB fair-value accounting rule. Di EV company report say dem get Q2 revenue of $22.5 billion and EPS of $0.40, e meet analyst prediction even though revenue drop 12% year-on-year and vehicle delivery drop 12.6%. TSLA shares rise 0.7% for after-hours trading. Dis clear quarterly way to mark crypto assets fit make other companies grow their Bitcoin holdings and own corporate asset plan.
Bullish
Tesla decision to mark dia Bitcoin holdings to fair value every quarter and report big unrealized gains dey increase transparency and fit boost demand from institutions. The positive reaction after hours plus how e line up wit earnings forecasts show say corporate confidence for crypto assets dey grow, wey fit support Bitcoin price for short and long term.