💢💦TESLA GAINS 600 MILLIONS FROM BITCOIN HOLDING 💦💢

👉Tesla’s Bitcoin holdings saw a $600 million boost in the fourth quarterthanks to a new accounting rule. This rule allows companies to value their digital assets at current market prices each quarter. Tesla now holds 11,509 BTC, worth about $1.19 billion, based on today’s market

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👉While Tesla didn’t disclose its Bitcoin holdings directly, it reported a $600 million gain on "digital assets" in its Q4 2024 results. Tesla is the sixth-largest publicly traded Bitcoin holder, with 9,720 BTC, according to Bitcoin Treasuries.

The gain comes from a change in accounting rules, which now require companies to adjust the value of their digital assets based on market prices. This raised Tesla’s reported digital asset value from $184 million to $1.076 billion.

👉In December 2023, the Financial Accounting Standards Board introduced this rule, which companies must adopt by 2025. Before this, Tesla could only report Bitcoin losses if the price dropped but couldn’t report gains unless it sold the assets.

👉Tesla's overall profit for Q4 2024 was $2.3 billion, down from $7.9 billion in the same period last year. However, sales rose by 2% to $25.7 billion. Despite missing Wall Street’s earnings estimate, Tesla's stock rose 4.3% after the Bitcoin revaluation news.

Tesla remains a major Bitcoin holder, and other companies like MicroStrategy and Coinbase could also benefit from this new rule.

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