Did you think Tesla lost money on their Bitcoin trade? Think again.
Tesla recorded per-share earnings of $2.27 in the second quarter on revenues of $16.93 billion. Although profitability was down compared with the first quarter, it was up over the levels of a year ago. However, company profitability was impacted by rising inflation and growing competition for battery cells.to Bitcoin Treasuries. At a current price of around $22,000 BTC, Tesla’s digital asset holdings are worth roughly $237 million.
“As with any investment and consistent with how we manage fiat-based cash and cash equivalent accounts, we may increase or decrease our holdings of digital assets at any time based on the needs of the business and on our view of market and environmental conditions.”
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