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Fast forward to the second quarter of 2023, Tesla disclosed that it had neither bought nor sold Bitcoin, maintaining a consistent digital asset balance of $184 million.Importantly, the price of Bitcoin fell from about $30,600 to $28,500 during this time. Current accounting rules do not allow Tesla to recognize a profit as long as the assets remain unsold. However, in the event of a sharp drop in Bitcoin prices, accounting rules would allow the valuation of these assets to be reduced.
Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management. He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.XRP Faces First Death Cross in 2023: Here's How Price Can React
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