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 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.
Roughly a quarter of Tesla’s earnings last quarter were due to recognizing a $600 million gain on Bitcoin. Tesla ...
Tesla (NASDAQ:TSLA) reported a significant gain in its bitcoin holdings for the fourth quarter of 2024, attributing a $600 million increase to an updated accounting rule by the Financial Accounting ...
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