Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 12450
Markets: 96130
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
12450
Cryptocurrencies
55.82%
Bitcoin Share
Crypto Daily 2025-01-30 14:11:28

Tesla Reports $600M Paper Gain From BTC Holdings Thanks To Updated Accounting Rule

Tesla Reports $600M Paper Gain From BTC Holdings Thanks To Updated Accounting Rule

Elon Musk’s Tesla has taken advantage of a new accounting rule that lets companies adjust the value of their digital asset holdings at market prices each quarter and reported a $600M paper gain in the fourth quarter of the year. The company’s BTC holdings remained steady, maintaining its position as the sixth-largest public company to hold the asset on its balance sheet, with 9,720 BTC. Tesla’s Q4 Numbers Tesla’s fourth-quarter earnings report showed its 9,720 BTC valued at $1.07 billion at the end of 2024, up from $184 million during previous quarters. Tesla also registered a GAAP income boost of $600 million on its digital holdings. The paper gain was due to an updated accounting rule that allows companies to adjust the value of their digital asset holdings at market prices for each quarter. Before the updated rule that came into force last month, companies had to report their digital asset holdings at their lowest valuation at the time of ownership. Even if the asset's value rose, it could not be revalued until sold, making the company’s digital asset holdings appear weaker than their market value. BTC’s Incredible Growth BTC has surged over 50% since November 2024 thanks to Donald Trump’s election victory and inauguration earlier this month and strong inflows into spot Bitcoin ETFs. BTC saw new all-time highs during Q4 after shattering the $100,000 level. The flagship cryptocurrency’s latest all-time high came as recently as January 20. BTC’s surge also saw other altcoins register significant growth. BTC is trading around $105,300, up nearly 3% over the past 24 hours. Data from Bitcoin Treasuries suggests Tesla holds 9,720 BTC. However, Arkham Intelligence data shows the company holds around 11,500 BTC valued at $1.21 billion, making it the fourth-largest publicly traded BTC holder behind MicroStrategy, Marathon Digital, and Galaxy Digital. Thanks to the gain from digital assets, Tesla reported a GAAP net income of $2.3 billion in Q4 and a total of $7.1 billion net income in 2024. The company’s adjusted earnings-per-share were reported to be $0.73, lower than the expected $0.76. Tesla had moved a significant chunk of BTC to undisclosed addresses in October 2024, prompting speculation that a sale was on the cards. The BTC was moved to wallets not associated with known crypto exchanges. The company has held BTC since 2020, when it disclosed the acquisition of $1.5 billion worth of the asset, making it one of the largest corporate investments in BTC at the time. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Most Read News



Cryptohopper
Market Cap
24h Vol
55.82%
Bitcoin Share
787
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.