🚀 Tesla’s Bitcoin Windfall: $600M Gain in Q4 With New Accounting Rule 🚀
Tesla’s fourth-quarter financial report revealed a Bitcoin windfall of $600 million, thanks to a new accounting rule that allows companies to showcase their virtual assets’ market value on balance sheets 📊🐂.
The 2023 Financial Accounting Standards Board rule, which took effect in mid-December, permitted the incorporation of the estimated market value of crypto assets in corporate records. Prior to this regulation, the value of companies’ holdings diminished on the books if they depreciated, potentially giving a misleading view of asset worth.
Adopting this rule, combined with strategic investments, led Tesla to a GAAP income of $2.3 billion Q4 2024. Despite the Bitcoin boost, Tesla’s quarterly earnings and profit still failed to meet Wall Street projections, due to a slight underachievement in total revenue.
The electric vehicle manufacturer reported a 2.4% decrease in stock after the announcement but experienced a 4.44% surge following the conference call at $406.36.
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2025-01-30 05:18