Tesla Gains USD 600 Million from Bitcoin Holdings in Q4 2024

Elon Musk’s electric vehicle company, Tesla, recorded a profit of USD 600 million, approximately IDR 9.7 trillion (assuming an exchange rate of IDR 16,224 per USD), from its Bitcoin holdings in the fourth quarter of 2024

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According to Yahoo Finance on Friday (January 31, 2025), this gain was achieved after Tesla implemented a new accounting rule that allows digital assets to be revalued quarterly based on market prices.

In its Q4 financial report, Tesla revealed that it held 9,720 Bitcoin, valued at USD 1.076 billion by the end of 2024. This marks a significant increase from the previous valuation of just USD 184 million over the past few quarters.

New Digital Asset Accounting Rules

The Financial Accounting Standards Board (FASB) has introduced a new policy requiring companies with digital assets to adjust their valuations according to market prices each quarter. The rule must be fully implemented by Q1 2025, though companies can choose to adopt it earlier.

Tesla appears to have taken advantage of this option ahead of schedule. Previously, companies holding digital assets were required to record their valuations based on the lowest price reached during their holding period.

According to data from Bitcoin Treasuries, Tesla currently holds 9,720 BTC, making it the sixth-largest public company in terms of Bitcoin ownership worldwide.

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