Tesla reports $600 million bitcoin profit jump after digital assets rule change
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Tesla's net income in Q4 was significantly boosted by a $600 million profit from bitcoin holdings, following a change in accounting standards for digital assets.
January 30, 2025 | 3:00 am
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Tesla's Q4 net income increased by $600 million due to a new accounting standard for digital assets, which positively impacted its bitcoin holdings.
The new accounting standard allowed Tesla to recognize a $600 million mark-to-market benefit from its bitcoin holdings, directly boosting its net income. This is likely to positively influence investor sentiment and the stock price in the short term.
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