Tesla Reports Continued Bitcoin Holdings, Registers ¥12.2 Billion in Unrealized Gains

Led by Elon Musk, Tesla revealed in its quarterly report on October 22 that it recorded a profit of $80 million (¥12.2 billion) from its Bitcoin holdings in the third quarter. The company still holds 11,509 BTC, with the current valuation reaching $1.31 billion (approximately ¥200 billion). Since the beginning of 2022, Tesla has not altered its Bitcoin holdings, but the valuation has surged this year due to the price increase. The company has adopted new fair value accounting standards earlier this year, which mandates reporting cryptocurrency holdings at current market prices rather than at cost. This adjustment has...