Tesla Cashes in on Bitcoin: $600M Profit in Q4 2024 Under New FASB Rules
Share:
Predictions Markets
See what traders are focused on
- Tesla gains $600M from Bitcoin thanks to new accounting rules in Q4 2024.
- Bitcoin surge boosts Tesla’s digital assets to $1.19B in Q4.
- Tesla’s Bitcoin transfers in October 2024 seen as a wallet rotation, not a sale.
Tesla has reported a $600 million profit in the fourth quarter of 2024 from its Bitcoin holdings following the introduction of new accounting regulations. The company’s Bitcoin holdings are now valued at approximately $1.19 billion, an increase over the past quarter.
BREAKING:
— MrRebel.eth (@rebelethpromos) January 30, 2025Elon Musk's Tesla gains $600M from #Bitcoin under new FASB rule, boosting holdings to $1.076B in Q4 2024
pic.twitter.com/6ahM6idAZC
This financial shift comes after the Financial Accounting Standards Board (FASB) introduced a rule change in December 2023. This new rule allows companies to report digital assets at their current market value instead of the lowest recorded price since purchase.
Bitcoin Gains Boost Tesla’s Q4 Performance
Tesla’s Bitcoin holdings, now at 11,509 BTC, increased in value to $1.19 billion. This is up from previous quarters when the company’s Bitcoin stake was valued at just $184 million…
The post Tesla Cashes in on Bitcoin: $600M Profit in Q4 2024 Under New FASB Rules appeared first on Coin Edition.
In This News
Coins
$ 60.68K
-3.09%
$ 0.00715
-4.34%
$ 0.00...361
$ 0.0574
$ 0.0823
+5.09%
Predictions Markets
See what traders are focused on
Share:
In This News
Coins
$ 60.68K
-3.09%$ 0.00715
-4.34%$ 0.00...361
$ 0.0574
$ 0.0823
+5.09%Predictions Markets
See what traders are focused on
Share:
Read More
Bitcoin Tests Critical Support at $62K as Analyst Warns of Deeper Correction to $54K
