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Tesla Books $600 Million Boost From Bitcoin
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.
Tesla, Bitcoin and Q4
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.
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.
Tesla Maintains Bitcoin Holdings Without Selling in Q4 2024
Tesla continues to hold a substantial amount of Bitcoin, reaffirming its position as one of the largest corporate holders of the cryptocurrency. In its latest shareholder update for the fourth quarter of 2024,
37m
on MSN
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 ...
Electrek
4h
A quarter of Tesla’s earnings were due to recognizing a $600 million gain on Bitcoin
Roughly a quarter of Tesla’s earnings last quarter were due to recognizing a $600 million gain on Bitcoin. Tesla ...
2d
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 ...
1d
What Wall Street Is Saying About Tesla Earnings
Tesla missed Wall Street’s fourth-quarter earnings estimates despite being helped by a gain in the company’s bitcoin holdings ...
4h
Tesla: Once Again, It's Time To Trim (Double Rating Downgrade)
Tesla appears overvalued again and recommend trimming TSLA due to overly optimistic projections around future products. Click ...
1d
Tesla earnings live updates: Promising ‘return to growth’ and cheaper cars
Tesla's fourth-quarter and full-year earnings day is here — a highly anticipated report that is expected to be released after ...
14h
Crypto Markets Analysis: Quiet Recovery on Friday
The crypto market has increased by 0.4% to $3.57 trillion over the last 24 hours but is still 1.4% below last week’s levels.
14h
XRP, Bitcoin Price Steadies as Gold Soars. What Trump Has to Do With It.
Trump confirmed plans put 25% tariffs on Canada and Mexico from Feb. 1. which had investors rushing to safe haven assets like ...
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