Tesla has published a report on the results of the third fiscal quarter of this year. And it mentions the company’s loss from investments in bitcoin in the amount of $ 51 million. More precisely, we are talking about the depreciation of the asset by the specified amount, since in the third quarter the company, according to the report, did not sell or buy cryptocurrency.
Tesla’s third quarter ended on September 30th. On that day, Bitcoin was worth a maximum of about $ 44,000. At the same time, since that moment, the price of the asset has grown by one and a half times, so now the company is clearly in the black. However, according to US law, although the company is obliged to stipulate the depreciation of digital assets in its financial statements, it is not required to indicate their growth. According to some estimates, Tesla now owns more than 43,000 bitcoins, which at its current exchange rate equals more than $ 2.8 billion.
In terms of the financial statement as a whole, the company generated $ 13.76 billion. Net profit amounted to $ 1.62 billion, which is almost five times more than a year earlier.
The automotive business earned the company $ 12.06 billion, and the company raised another $ 806 million from its energy business, which combines energy storage and rooftop solar panels.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
