Bitcoin Gains Propel Tesla’s Q4 Profits—Here’s What Changed
Tesla’s financial performance in the fourth quarter of 2024 has been strengthened, partly because of its Bitcoin Holdings.
The company reports that due to changes in accounting rules, the income is 600 million US dollars. This moves Tesla pays attention to its Bitcoin at market prices.
Tesla made $ 600 million in Bitcoin
This transformation of accounting standards stems from the new rules of the Financial Accounting Standard Committee (FASB). This rule stipulates that starting from 2025, companies holding digital assets must marked these assets as listing every quarter.
The new FASB rules provide the company with the choice of this change earlier, Tesla seems to have done it. Before this rule, the company is required to report its digital assets based on the minimum valuation of these assets during the period.
Now, after adjusting the value to the current market price, Tesla’s valuation has increased significantly Its bitcoin holdings. And, according to its income release,,,,, Tesla did not sell any Bitcoin In the fourth quarter.
In the fourth quarter of 2024, Tesla’s Bitcoin held a value of US $ 10.76 billion, higher than the US $ 184 million in the first few quarters after the rules. The dramatic increase is reflected Change the market value of BitcoinOver time, it fluctuated.
This has increased Bitcoin’s market value Caused $ 600 million in income and improved Tesla’s financial performance. The company’s 4 Q4 GAAP revenue reached 2.3 billion US dollars, which means Bitcoin has played a key role In the result.
According to reports, CFO VAIBHAV Taneja pointed out in the return call: “It is important to point out that the net income in the fourth quarter was affected by the $ 600 million trademark bonus in Bitcoin because the new digital asset accounting standard was adopted.”
according to Bitcoin State Tank, Tesla holds 9,720 BTC, manufactured It is the sixth largest The company holding the public transaction holds BitcoinEssence
Tesla purchased 43,200 BTC in 2021 and entered the Bitcoin market. After the first purchase here, Tesla sells part of its Bitcoin Collection over the years.
The changes in Tesla Bitcoin valuation have also caused questions about the impact of new accounting rules on micro -income.
“When MicroslateGy announced its income next week, what will happen. They have 471,107 Bitcoin, and they are likely to use new FASB accounting rules,” X users PublishEssence
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