Tesla's 2024 Q4 Bitcoin Profit Reaches $600 Million, Currently Holding 11,509 BTC

BlockBeats News, February 11th, according to Cointelegraph, Tesla's Bitcoin profit in Q4 2024 reached 600 million USD, partly thanks to new accounting rules that allow the company to record the market value of its digital assets.

Cryptocurrency industry executives stated that the new accounting rules have brought new opportunities for companies seeking to use digital assets as collateral to obtain working capital. This positions Bitcoin as a valuable financial asset, enabling companies to access working capital while maintaining their appreciation risk exposure.

Tesla's 10-K filing with the SEC revealed that it currently holds 11,509 BTC.