Tesla retained its full 11,509 BTC position throughout the second quarter, opting not to buy or sell despite a 14% drop in bitcoin's price over the period. The decline forced the electric vehicle maker to record a $112 million impairment loss, reflecting the reduced value of its digital asset holdings under accounting rules. The disclosure came alongside quarterly earnings that presented a mixed picture, with revenue surpassing analyst expectations while profit fell short. Tesla first added bitcoin to its balance sheet in 2021 and has since become one of the most closely watched corporate holders of the cryptocurrency. By holding steady rather than adjusting its treasury during the downturn, the company signaled a continued willingness to weather bitcoin's volatility on its books, even as the paper loss weighed on its reported financial results for the quarter.
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