Elon Musk’s Tesla Sits On $284 Million Bitcoin Windfall In Q2, Refuses to Cash Out
Electric vehicle behemoth Tesla Inc. (NASDAQ:TSLA) reported Wednesday unrealized gains of over $280 million on its cryptocurrency holdings in the second quarter, thanks to a 30% jump in Bitcoin’s (CRYPTO: BTC) price.
What Happened: Tesla’s balance sheet showed $1.235 billion in digital assets, up nearly 30% from the last quarter, according to the company’s earnings report released after the closing bell.
This resulted in gains of $284 million on its cryptocurrency investments, a marked turnaround from the $125 million losses it suffered in the previous quarter.
The Elon Musk-led tech titan does not publish a breakdown of its cryptocurrency holdings. However, on-chain analytics firm Arkham Intelligence reports that the entirety of their stockpile is …
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