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International Business Times
International Business Times
Business
Marvie Basilan

Elon Musk's Tesla Reports $600M Gain In Digital Asset Holdings In Q4 2024, HODLs Bitcoin

Tesla Inc. Elon Musk Bitcoin EV Arkham Intelligence MicroStrategy
Elon Musk's Tesla "HODLed" its Bitcoin in the fourth quarter of 2024. (Credit: AFP)

KEY POINTS

  • Tesla said its digital asset holdings were now valued at $1.076 billion
  • A wallet linked to the EV maker by Arkham shows that Tesla holds over 11,500 $BTC worth some $1.21 billion
  • Bitcoin seemed happy with the news, climbing above $105,000 early on Thursday

Electric vehicle giant Tesla on Wednesday reported a $600 million gain on its digital asset holdings during the fourth quarter of 2024 after it adopted a late 2023 accounting rule by the Financial Accounting Standards Board (FASB) that required companies to report their cryptocurrency or digital asset holdings at fair market value instead of the lowest recorded price since the assets were purchased.

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