Tesla, manufacturer of electric vehicles belonging to Elon Musk, reported a gain of $ 600 million on its Bitcoin holdings in the fourth quarter, benefiting from a new accounting rule which allows companies to adjust the assessments of digital assets quarterly in office market prices.
According to Arkham Intelligence, Tesla holds 11,509 BTC, worth around 1.19 billion dollars.
However, the company has not explicitly disclosed its Bitcoin holdings in its fourth quarter 2024 report, mentioning only a brand gain of $ 600 million under “digital assets”.
The latest accounting update considerably increased Tesla’s Bitcoin value. Adjustment increased digital assets to $ 1.076 billion. The older accounting rules previously listed their altered value at only $ 184 million.
The new rule of the Financial Accounting Standards Board (FASB), promulgated in December 2023, allows companies to report assets in cryptography to an equitable market value according to American standards of PCGRs. Before that, companies had to record value reductions, but could not update the assets to reflect price increases unless the financial force distorts financial force.
Tesla’s fourth quarter of the Fourth quarter has reached $ 2.3 billion, adding Bitcoin contributions. Meanwhile, income increased by 2% to 25.71 billion dollars, but lacked projections, analysts, analysts had planned $ 27.22 billion.
The electric vehicle giant has also dropped expectations for profit because it has posted a profit per share of $ 0.73, below the forecasts of analysts of $ 0.76. The total operating costs in the quarter of the company reached $ 2.59 billion, recording more than 9% increase compared to the previous quarter.
The report on the results of the Tesla fourth quarter occurs a little more than a week after President Donald Trump was sworn in for his second term. Musk was both a vocal defender and an important financial support from Trump. He even became the largest donor in the American presidential election in 2024 and was informal advisor throughout the campaign and the presidency of Trump. In January 2025, Trump officially appointed Musk as administrator of the American Department of Government (DOGE).
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