In June, the mask said in June 2024 to support Desantis for the President.
Joses Kipper | Reuters
Tesla‘s Bitcoin Holdings has brought a large pop to the net income reported in the fourth quarter, as new rules have been changed to a method in which companies occupy digital assets.
In the previous four -quarter, after showing $ 184 million digital assets, the number suddenly jumped to $ 1 billion in December, and Tesla reported on Wednesday’s earnings.
This increase leads to recent policy changes from the Financial Accounting Standards Committee. This requires the possession of corporate digital assets from the beginning of 2025 to the market every quarter. Changing the FASB rule must report the property of a company owning Bitcoin. The lowest price recorded during ownership, regardless of the rise in prices.
Tesla is a revenue deck, and the profit per share will increase by 68 cents in the quarter, and CFO Vaibhav Taneja pointed out that net income increased by $ 600 million.
“It is important to point out that net income in the fourth quarter has been affected by the use of new digital assets, affected by Bitcoin to the market of $ 600 million to the market,” Taneja. I mentioned it.
At the end of the third quarter, Tesla’s Bitcoin Holdings was recorded at $ 184 million, but the fair market value was $ 729 million. In other words, the actual increase in holding value during the period was about $ 347 million, reflecting the 4th quarter rally of Bitcoin.
Many of the recent benefits of Bitcoin are linked to the optimism surrounding the Second Trump administration, which was greatly supported by the cryptographic industry. Tesla’s CEO, Elon Mask, is Trump’s largest financial supporters and is now a top advisor in the White House. David Sachs, a long -standing ally, was tapped on White House AI and Crypto Czar by Trump.
Bitcoin Tracking Website Bitcoin finance is ranked Tesla as the sixth largest bitcoin owner of the public company.
Tesla’s fourth quarter revenue and revenue did not reach analysts on Wednesday due to a decrease of 8 % from a year ago, but in stock rose in business hours.
-CNBC’s Lora Kolodny has contributed to this report.
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