Tesla just announced a profit of 600 million USD from Bitcoin in Q4 2024, thanks to a new accounting rule that allows the company to recognize the value of digital assets at market prices each quarter. This helped the recorded value of Bitcoin on Tesla's books increase from 184 million USD to 1.076 billion USD.
How Much Bitcoin Does Tesla Hold?
Data from #ArkhamIntelligence shows that Tesla currently owns 11,509 BTC, with an estimated total value of about 1.19 billion USD at current market prices.
However, in the Q4 2024 report, Tesla did not disclose the amount of Bitcoin but only mentioned 'digital assets' with a profit of 600 million USD.
How Does the New Accounting Law Affect?
🔹 Previously, #Tesla losses were only recognized if the price of Bitcoin fell, but gains were not counted if the price rose, unless the asset was sold.
🔹 Under the new rules of the Financial Accounting Standards Board (FASB), companies can revalue digital assets at market price quarterly, similar to stocks.
🔹 This rule will take effect from 2025, but Tesla has adopted it early to benefit.
Tesla Stock Reacts Positively
Although Tesla reported earnings per share (EPS) of 0.73 USD, lower than the forecast of 0.78 USD, Tesla's stock still rose 4.3% after hours, reaching 406.25 USD.
The reason? Investors are optimistic as the value of digital assets is recorded higher than before.
Do Other Businesses Benefit Too?
Not only Tesla, but other companies holding crypto such as MicroStrategy and Coinbase may also report higher asset values thanks to this new rule.
💡 Conclusion: The change in accounting rules not only gives Tesla a significant advantage but also opens up opportunities for many other businesses to hold crypto. With this move, Bitcoin is not just an investment asset but also becomes an important part of corporate financial reporting! 🚀 #anhbacong
