Tesla d’Elon Musk (TSLA) seemed to take advantage of a new accounting rule allowing the assets of digital assets to be marked with each quarter.
The report on the results of the fourth quarter of the company shows that its 9,720 bitcoin evaluated at $ 1.076 billion at the end of 2024. This was up to 184 million dollars during several quarters before. In addition to this change, Tesla also recorded an increase in income of $ 600 million in its digital participations. For a perspective, the company had an overall GAAP income of $ 2.3 billion in the fourth quarter.
A new rule of the Financial Accounting Standards Board (FASB) obliges holders of digital asset companies to start marking these assets to market each quarter, no later than the first quarter of 2025. Companies could take advantage of the new rule before that At their own discretion, what Tesla seemed to do.
Before this new rule, holders of digital asset companies were required to report these assets in their lowest evaluation during the property period.
Tesla, on the whole, said an adjusted BPA of $ 0.73 in the fourth quarter, lacking estimates for $ 0.76. The gain on his Bitcoin holdings was for Gaap ends and would have had no effect on the adjusted EPs. Actions are higher 3.5% after negotiation hours.
Tesla holds 9,720 BTC, according to Bitcoin vouchers, making it the sixth largest company listed on the stock market to keep Bitcoin on its balance sheet.
