Tesla reports holdings of approximately 135 billion yen worth of Bitcoin - sales fell short of expectations | CoinDesk JAPAN

• Tesla holds Bitcoin (BTC) worth approximately 951 million dollars (about 135 billion yen, converted at 1 dollar = 142 yen).
• The Financial Accounting Standards Board is currently requiring the fair value assessment of digital assets on a quarterly basis.
• Tesla's Q1 revenue was $19.34 billion, falling short of analysts' expectations.

According to the latest earnings report, the American electric vehicle manufacturer Tesla holds nearly $1 billion worth of Bitcoin.

Tesla reported that as of March 31, it holds Bitcoin worth $951 million. This is a decrease from $1.076 billion on December 30. According to data from Bitcoin Treasuries, Tesla currently holds 11,509 Bitcoins on its balance sheet.

This change is almost certainly due to the decline in the price of Bitcoin over the course of two quarters. According to data from Arkham Intelligence, Tesla has not conducted any transactions in the past three months. Arkham states that Tesla's Holdings are currently valued at $1.049 billion.

Under the new rules of the Financial Accounting Standards Board (FASB), companies that hold digital assets are required to mark those assets to market on a quarterly basis.

Tesla also announced that its sales for the first quarter of this year were $19.34 billion. In contrast, analysts had expected $21.37 billion.

Tesla shares rose more than 2% in after-hours trading.

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