PANews reported on October 23rd that, according to CoinDesk, Tesla (TSLA) maintained its holdings of 11,509 Bitcoin (BTC) in the third quarter, recognizing approximately $80 million in gains due to price increases, bringing the end-of-period valuation of its digital assets to approximately $1.35 billion. The company's Q3 revenue was $28.1 billion, exceeding market expectations of $26.36 billion. Adjusted earnings per share were $0.50, missing the $0.54 estimate. Under new FASB rules, the company is required to recognize changes in the fair value of its crypto assets on a quarterly basis. The stock price fell slightly to around $434 after hours.
Tesla's Q3 profit increased by approximately $80 million due to changes in Bitcoin's fair value
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