Tesla in the II quarter. retained a position in BTC for $184 million


Electric car maker Tesla left its digital gold position unchanged for the fourth quarter in a row. According to reports for April-June, investments were estimated at $184 million.

The book value remained unchanged for the second quarter in a row.

Adjusted EPS for the second quarter was $0.91, better than the consensus estimate of $0.82. Revenue ($24.9 billion) also came in above economists’ expectations of $24.51 billion.

In the post-trading session, Tesla shares fell 3.7% as part of profit-taking. Since the beginning of the year, the securities of the manufacturer of electric cars have risen in price by 136.5%.

Tesla stock daily chart on Nasdaq. Data: Finviz.

During the press conference with analysts, the topic of digital assets was not raised.

For 2022, the negative revaluation of the 9720 BTC held by Tesla on the balance sheet amounted to $204 million.

According to Bitcoin Treasuries, the current loss on the position is $44 million (13%).

Recall that in February 2021 it became known that the company invested $1.5 billion in bitcoin. Elon Musk himself called these investments “quite risky.”

By the end of the second quarter of 2022, Tesla had converted approximately 75% of its own bitcoin into cash, which brought it $936 million. The profit from the operation was $64 million, and the net loss, taking into account impairment, was $140 million.

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