Tesla's bitcoin holdings are unchanged for a third straight quarter. Accounting rules kept the valuation of bitcoin held on its balance sheet at $184M even as the price of bitcoin rose sharply during those three months. $TSLA SteveAlpher reports
The value of digital assets held by Tesla at quarter's end was $184 million, flat from 2022 Q4.
The valuation remained flat even as bitcoin rose to about $28,500 at the end of Q1 from $16,500 three months earlier, as current accounting rules don't allow such gains to be booked.For the first quarter, Tesla reported adjusted earnings per share of $0.85 versus FactSet estimates of $0.85. Revenue of $23.33 billion was less than FactSet estimates for $23.6 billion.
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