Tesla (TSLA) still holds nearly $1 billion in Bitcoin, according to the latest revenue report from the automaker.
The electric vehicle company had reduced its digital asset holdings worth $951 million as of March 31 from $1.076 billion on December 30. Tesla currently has 11,509 bitcoins on its balance sheet.
This change is almost certainly due to the price of Bitcoin depreciation over the two quarters. Data from Arkham Intelligence shows that Tesla has not executed any transactions in the last three months. Arkham has now marked its Tesla holdings as worth $1.049 billion.
New rules from the Financial Accounting Standards Board (FASB) require that corporate holders of digital assets begin markings for these assets to bring each quarter to the market.
Tesla also reported revenue of $19.34 billion for the first quarter of the year. Analysts were hoping the automaker would climb for $21.37 billion.
TSLA stocks rose more than 2% in after-hours trading.
