Tesla reports $600M Bitcoin gain in Q4 using new accounting rule
Tesla has used a new crypto accounting rule to book a nearly $600 million net gain on its Bitcoin holdings in the fourth quarter of 2024.
Tesla reported a $600 million gain from its Bitcoin holdings in the fourth quarter of 2024 thanks to new accounting rules that allow companies to record the market value of the crypto on their books.
Tesla’s Q4 2024 results released on Jan. 29 show the company valued its Bitcoin (BTC) stash at just over $1 billion, up from the $184 million it logged throughout previous quarters.
It marked a net gain of $589 million on its BTC holdings over the quarter, which has reached 9,720 BTC, according to Bitcoin Treasuries.
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Author: Stephen Katte
