Tesla’s Bitcoin Stash Jumps $600M in Value After Rule Change

Last Updated on January 30, 2025

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Bitcoin cryptocurrency on a Tesla electric vehicle logo. Source: ink drop - stock.adobe.com

Key Takeaways:

  • Tesla recorded a $589M net gain on Bitcoin holdings in Q4 2024 due to new FASB accounting rules.
  • The company’s Bitcoin holdings are now valued at over $1B, up from $184M in previous quarters.
  • Despite the Bitcoin gain, Tesla’s earnings and revenue missed Wall Street expectations.

Tesla reported a nearly $600 million gain on its Bitcoin holdings in Q4 2024, thanks to a new Financial Accounting Standards Board (FASB) rule change.

This adjustment, implemented in December 2023, allows companies to reflect the market value of crypto assets on their balance sheets, instead of previously having to record them at their lowest value during an accounting period.

Tesla’s latest earnings report, released on Jan. 29, revealed that its Bitcoin holdings were valued at just over $1 billion, up from $184 million in previous quarters.

With 9,720 BTC in its treasury, Tesla recorded a $589 million net gain in Q4.

Despite this, the company missed Wall Street expectations in overall earnings.

Tesla posted $2.3 billion in GAAP income and $25.71 billion in total revenue (a 2% YoY increase), falling short of the $27.22 billion expected by analysts.

The company also missed EPS projections, reporting $0.73 per share instead of the $0.76 forecasted.

Tesla’s stock (TSLA) dropped 2.26% on Jan. 29 but rebounded 4.44% in after-hours trading.

The company first bought Bitcoin in 2021, later selling 75% of its holdings in 2022.

Tesla remains a major corporate Bitcoin holder, alongside MicroStrategy and others.

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