Tesla announces $ 1.3 billion in bitcoin assets in Q2, $ 23 million depreciated by BTC

Electric car company Ilona musk owns Tesla, Bitcoins worth $ 1.311 billion. The company did not buy or sell bitcoins in the second quarter, but recorded a $ 23 million drop in bitcoin value. Tesla’s actions confirmed Musk’s previous statement that neither Tesla nor Tesla sold their money.

2. Tesla’s bitcoin holdings in the quarter
Tesla’s Ilona musk releases her second-quarter earnings report on Monday. The company’s unconfirmed balance sheet for Q2 2021 shows a net worth of digital assets of $ 1.311 billion as of June 30.

Tesla’s unaudited balance for Q2 with the company’s net digital assets. Source: Tesla
Tesla, 2. didn’t buy or sell bitcoins in the quarter
Tesla did not buy or sell bitcoins in the second quarter. The company’s unaudited cash flow statement for Q2 shows that the only cryptocurrency purchase still made was the $ 1.5 billion purchase of BTC in Q1.

The cash flow statement also shows Tesla sold bitcoin for $ 272 million in just 1 quarter. Tesla CEO Elon musk previously announced that the sale should prove bitcoin’s liquidity by tweeting on June 13: “Tesla sold only a 10% stake to confirm that BTC could easily be liquidated without moving the market.”

Tesla’s unannounced Q2 cash flow statement shows bitcoin trading by the company. Source: Tesla
In April, Tesla told the U.S. Securities and Exchange Commission (SEC) that hiding it with bitcoins cost $ 2.5 billion.

Bitcoins-related depreciation, $ 23 million
Tesla’s Q2 earnings report, “bitcoin-related depreciation of $ 23 million, including the company’s operating income, gender, articles, emphasizing the”profitability” section mentions especially Bitcoin.”

Tesla’s Q2 earnings report. Source: Tesla
According to the Tesla 10-K Form filed with the Sec, the company is interested in” living permanently in intangible assets under ASC 350, intangible assets-goodwill and others.”:

Digital assets are initially reflected in cost and then reflected in cost.

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