According to Tesla’s latest shareholder update, an American multinational automotive and clean energy company revealed that it has not sold any of its Bitcoins in Q4, 2024, and holds approximately 9,720 BTC, valued at around $1.2 billion. The holdings position BTC in fourth place at the leaderboard of the top 60 biggest Bitcoin holding entities.
Tesla’s latest earnings report shows a financial boost from its Bitcoin holdings, thanks to a newly implemented accounting rule. As of the end of 2024, the electric vehicle giant valued its 9,720 BTC. The growth in Bitcoin holdings is a huge jump from the previous $184 million it has reported in the last few quarters.
JUST IN: Tesla $TSLA reveals none of their $1,200,000,000 Bitcoin was sold in Q4 2024. pic.twitter.com/VzmwmPyrrp
— Watcher.Guru (@WatcherGuru) January 29, 2025
Tesla Gains in Bitcoin Holdings
The change contributed to a $600 million increase in GAAP income, which helped the company accumulate a total GAAP income of $2.3 billion for Q4. The adjustment displays how Tesla is leveraging its Bitcoin investment amid a big shift in the financial regulations under U.S. President Donald Trump’s new administration.
The shift stems from a new rule introduced by the Financial Accounting Standards Board (FASB), which directs companies to mark digital assets to market each quarter starting in 2025.
Previously, firms had to report digital assets at their lowest valuation during ownership. With the updated standard, the company has aligned its reporting with real-time market conditions.
Despite the Bitcoin-related boost, the company’s overall performance failed to meet analyst expectations. The company reported an adjusted EPS of $0.73 for Q4, falling short of the projected $0.76.
Also Read: Czech Central Bank Governor Proposes Bitcoin Investment
Source: https://www.cryptonewsz.com/tesla-holds-9720-bitcoins-no-btc-sold-q4-2024/