Tesla Reports $600 Million Bitcoin Profit Jump After Rule Change
Coin Gabbar01 Feb, 2025Business
Tesla has reported a $600 million increase in Bitcoin profits following a recent rule change that positively impacted the company’s cryptocurrency holdings. This significant profit jump is attributed to new accounting rules allowing Tesla to recognize gains from Bitcoin without marking down its assets during market declines. With this change, Tesla has been able to capitalize on its Bitcoin investments, further solidifying its position as a prominent player in the digital asset market. This move could have lasting effects on the corporate adoption of Bitcoin.
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