According to the earnings report, Tesla reported a $125 million mark-to-market loss on its cryptocurrency investments in the first quarter, reversing gains from the prior quarter. The company’s digital assets totaled $951 million, down 11.6% quarter-over-quarter, though its Bitcoin balance remained unchanged. The value drop was attributed to Bitcoin's 12% decline over the quarter, despite a partial rebound in April. Tesla adopted new accounting standards allowing market value declarations for crypto holdings.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Tesla reported $125 million mark-to-market loss on its cryptocurrency investments in the first
00:07quarter, reversing gains from the prior quarter, according to the earnings report.
00:11The company's digital asset holdings totaled $951 million, down 11.6% quarter-over-quarter,
00:17though its Bitcoin balance remained unchanged. The value drop is attributed to Bitcoin's 12%
00:22decline over the quarter, despite a partial rebound in April. Tesla adopted new accounting
00:26standards, allowing market value declarations for crypto holdings.
00:29For all things money, visit Benzinga.com slash GSTV.