(Bloomberg) -Tesla Inc.’s Bitcoin has boosted the latest quarterly results with the kindness of the new accounting rules of digital assets.
The net income has been adopted by the accounting approach, gaining a profit from the $ 600 million market to the market from the digital token, said in the Tesla revenue call on Wednesday.
The adjusted revenue of the fourth quarter of the electric vehicle manufacturer was 73 cents per share, and the average analyst estimated value was 75 cents. However, investors have taken the stock in the expanded New York transaction, taking into account the plan of an Iron Mask -led company, which began this year’s robot taxes and recovery from sales recovery.
Tesla stated in 2021 a $ 1.5 billion investment in Bitcoin in 2021 during the prior boom. The latest quarterly update lists a digital assets worth $ 1.08 billion on the balance sheet.
Regulations on the Financial Accounting Standards Committee, which require companies to record digital assets with fair value, will be enforced this year, but previous recruitment is allowed.
The rules released at the end of 2023 are to understand the latest value of famous unstable digital assets. Companies can record a lower evaluation, and companies that bet on bitcoin lamented such a one -side accounting treatment.
The encryption market is in the right of a new boom prompted by the pledge of US President Donald Trump’s support regulation. The value of bitcoin has doubled in the past year, reaching $ 109,241 on January 20, and returned.
-Support from -dana Hull and Tom Conteriano.
More stories like this are available on Bloomberg.com
