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.
Key Takeaways Tesla earlier this week reported a $600 million profit associated with its bitcoin holdings, which accounted ...
Bitcoin has rallied over 50% since Donald Trump’s election win and is currently trading near the $106,000 mark.
A recent change in the rules for how companies account for digital assets led Tesla to report a $600 million mark-to-market ...
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 CFO Vaibhav Taneja noted that the automaker’s net income in Q4 was “impacted by a $600 million market benefit from ...
A leak has revealed Elon Musk could be planning to use bitcoin-inspired blockchain technology to power his Doge ...
The U.S. has not formally announced a bitcoin reserve yet. But other countries are addressing their national crypto strategies. Aleš Michl, governor of the Czech National Bank, told the Financial ...
Nuvve, a clean energy firm that builds EV charging stations, said it will use some of its spare cash to start buying Bitcoin.
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