Tesla and MicroStrategy to Report Their Crypto Situations: Bloomberg

Bloomberg has recently published an article that discusses the significance of large companies reporting previously accepted cryptocurrencies and asked Tesla and MicroStrategy to report their crypto assets next week. In accordance with the publication, the giant companies have made an official announcement regarding the introduction of Bitcoin as a method of payment.

Tesla and MicroStrategy to Report Crypto Assets Situation Next Week, Says Bloomberg

Recalling the time when Tesla booked a profit of $128 million from the sale of its possessed tokens in the first quarter. 

Well, Elon Musk responded to this and said that the step of selling the tokens was taken to illustrate the liquidity of the very first cryptocurrency.

In addition to this, it should be noted that the market value of Tesla fell in the second quarter, and the reason for that was considered the inclusion of Bitcoin in the company. Although the fall was due to the unjustified forecasts about the market situation of electric cars. 

On the other side, MicroStrategy made Bitcoin a central segment of its journey. Moreover, the firm started selling bonds to fund the purchases.

All the actions at that time were taken under the guidance and governance of the CEO of the company, Michael Saylor.

Reporting Time for the Firms

As Bloomberg revealed further, it wrote the time for these companies to report on the crypto assets. 

Next week, the process for Tesla and MicroStrategy reporting is going to occur. Along with this, the payments firm Square is going to report crypto assets in the month of August.

Sharing their responses regarding this event, experts like Jack Keseilski said that the fluctuations in the price of cryptocurrencies will be laying an impact on the result.

Moreover, Bloomberg addressed the fall in the price of Bitcoin as it slipped around 41% in the second quarter of the year 2021.