Tesla's Q1 financial report fell short of expectations, still holding over $950 million in Bitcoin

ChainCatcher news, according to CoinDesk, Tesla's latest financial report shows that as of March 31, the company holds approximately $951 million in Bitcoin, a slight decrease from $1.076 billion at the end of last year, mainly due to price fluctuations. According to Arkham data, Tesla did not conduct any cryptocurrency transactions this quarter and currently holds 11,509 Bitcoins.

According to the new rules from the Financial Accounting Standards Board (FASB), companies are required to adjust the value of digital assets quarterly based on market value. Tesla's revenue for the first quarter was $19.34 billion, below the market expectation of $21.37 billion. Nevertheless, its stock price rose over 2% in after-hours trading.