Why A New Rule Helped Tesla Get $600M in Bitcoin Gains But May Cost MicroStrategy Billions
Key Takeaways Tesla earlier this week reported a $600 million profit associated with its bitcoin holdings, which accounted for a little more than a quarter of its fourth-quarter profits.The company was able to book these bitcoin-derived profits thanks to a change in Financial Accounting Standards Board guidelines for crypto assets.
 · 6hElectrek
A quarter of Tesla’s earnings were due to recognizing a $600 million gain on Bitcoin
 · 1dInside Bitcoins
Elon Musk’s Tesla Reports Bitcoin Gain Of $589 Million Following US Accounting Rule Change
 · 1dcryptonews
Tesla Enjoys $600M Bitcoin Profit Jump After Accounting Rule Change
Tesla profits get $600 million Bitcoin boost thanks to crypto accounting rule change
Bitcoin has rallied over 50% since Donald Trump’s election win and is currently trading near the $106,000 mark.
Bitcoin boosts Tesla profits by almost $600 million after accounting rule change
Elon Musk's EV maker invested $1.5 billion in bitcoin in early 2021. Companies can now record paper gains on cryptocurrencies as net income.
Tesla reports $600 million bitcoin profit jump after digital assets rule change
A recent change in the rules for how companies account for digital assets led Tesla to report a $600 million mark-to-market gain.
CoinDesk2d
Tesla Marked Up Bitcoin Holdings Valuation in Q4, Booking a $600M Gain
Tesla overall reported adjusted EPS of $0.73 in the fourth quarter, missing estimates for $0.76. The gain on its bitcoin holdings was for GAAP purposes and would have had no effect on adjusted EPS. Shares are higher by 3.5% in after hours trading.
Shacknews2d
Tesla (TSLA) acknowledged a $600 million benefit from Bitcoin holdings appreciation in Q4 2024
Vaibhav Taneja acknowledged Tesla’s benefit from its Bitcoin holdings during the company’s Q4 2024 earnings call. CEO Elon Musk is a known proponent of cryptocurrency, so it doesn’t come as a shock that Tesla was holding on to a large chunk of Bitcoin.
Bitcoin makes a financial cameo
Tesla CFO Vaibhav Taneja noted that the automaker’s net income in Q4 was “impacted by a $600 million market benefit from bitcoin due to the adoption of a new accounting standard for digital assets.” He said that Tesla would adjust its other income in future reporting periods going forward.
ReadWrite1d
Tesla sees $600M Bitcoin gains in Q4
New accounting rules shed some light on the profitability of electric vehicle manufacturer Tesla's Bitcoin (BTC) investment.
Tesla reports $600 million boost to net income with updated bitcoin accounting: CNBC Crypto World
On today's episode of CNBC Crypto World, bitcoin gets a boost to $105,000 after the Fed keeps rates unchanged. Tesla reports a $600 million jump in net income after a mark-to-market adjustment on its bitcoin holdings.
https//beincrypto.com1d
Tesla’s Bitcoin Holdings Boost Q4 Earnings by $600 Million With New Accounting Rule
Tesla gained $600 million in Q4 2024 by marking Bitcoin to market under new FASB rules, significantly boosting its financial performance.
Elon Musk's Tesla Records $600 Million In Paper Gains On Bitcoin In Q4 Thanks To New Accounting Rule
Electric vehicle behemoth Tesla Inc. (NASDAQ:TSLA) reported an unrealized gain of $600 million on its cryptocurrency holdings in the fourth quarter.