Tesla announced in its second-quarter financial report that it hasn't sold any of its Bitcoin holdings, ending recent speculation.
Tesla, one of the world's largest automakers, confirmed it has retained all 11,509 BTC, currently valued at approximately $1.2 billion. This clarity comes amid recent market speculation following Bitcoin transactions by another Elon Musk-owned company.
The company's decision to hold onto its Bitcoin was welcomed by investors as a positive market indicator. Earlier rumors suggested Tesla might sell Bitcoin following activity from Musk's other ventures, but the latest financial disclosures show these concerns were unfounded.
Tesla's increased Bitcoin valuation was boosted by BTC’s nearly 30% price increase during the second quarter and also supported by new accounting standards implemented in the U.S. These rules now require companies to update the valuation of digital assets quarterly, providing investors with clearer financial transparency.
