Tesla saw an increase in its financial performance in the fourth quarter of 2024, thanks in part to its participation in Bitcoin.

The company reported a $ 600 million gain due to a change in accounting rules. The measure allowed Tesla to evaluate its bitcoin at market prices.

This change in accounting standards stems from a new rule of Financial Accounting Standards Board (FASB). The rule requires that, from 2025, companies that have digital assets must mark these assets to the market every quarter.

The new FASB rule gives companies the option to implement this change earlier, which Tesla seems to have done. Prior to this rule, companies were required to report their digital assets based on the lower assessment of these assets during the inauguration period.

Now, after adjusting the values ​​to current market prices, Tesla has seen a significant increase in the assessment of its Bitcoin stakes. Also, according to your report Of gains, Tesla didn't sell any bitcoin in the fourth quarter.

In the fourth quarter of 2024, Tesla's Bitcoin stakes were valued at $ 1,076 billion, rising from only $ 184 million in previous quarters after the rule change. The dramatic increase reflects the market value change in Bitcoin, which has seen fluctuations over time.

This increase in Bitcoin's market value contributed to a $ 600 million gain, boosting Tesla's financial performance. The company's total GAAP profit for the fourth quarter reached $ 2.3 billion, which means that Bitcoin gain played a key role in the results.

It is important to highlight that net income in the fourth quarter was impacted by a benefit of $ 600 million in Bitcoin market due to the adoption of a new accounting standard for digital assets, CFO Vaibhav Taneja in the results teleconferencing.

According to Bitcoin Treasuries, Tesla has 9,720 BTC, making It is the sixth largest publicly traded company to have Bitcoin.

Tesla entered the Bitcoin market in 2021 with the purchase of 43,200 BTC. After this initial purchase, Tesla has sold part of its stakes in Bitcoin over the years.

The change in Bitcoin's assessment by Tesla has also raised questions about the effect that the new accounting rules will have in Microstrategy gains.

What will happen when Microstrategy announces its earnings next week. They have 471,107 bitcoin and will probably also enjoy the new accounting rule of FASB, posted an X user .