Due to changes in accounting standards, Tesla's unrealized gains on Bitcoin holdings increased by $600 million
ChainCatcher news, according to The Block, due to new accounting standards allowing for quarterly adjustments of digital asset values at market price, Tesla recorded a book gain of $600 million on its Bitcoin holdings in the fourth quarter of 2024, increasing the value of its digital asset holdings to $1.076 billion.
In the fourth quarter of 2024, Bitcoin's price increased by over 50%. Tesla did not disclose the amount of Bitcoin it holds, but data from Arkham Intelligence shows it holds approximately 11,500 Bitcoins. As a result, Tesla's net income for the fourth quarter was $2.3 billion, and its stock price rebounded by 4.15% in after-hours trading.
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