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A quarter of Tesla's earnings were due to recongnizing a $600 million gain on BITCOIN [View all]
Fred Lambert, Jan 30 2025 - 12:20 pm PT
Source: https://electrek.co/2025/01/30/a-quarter-of-teslas-earnings-were-due-to-recongnizing-a-600-million-gain-on-bitcoin/
Tesla still came short of expectations.
TESLA AND BITCOIN
Tesla is among the few large public companies that invested some of their cash into cryptocurrency.
-snip-
A year after the initial investment, Tesla’s Bitcoin holding increased to $2 billion, but the cryptocurrency lost a lot of its value in 2022 and the automaker’s position suffered – though the automaker also divested about 75% of its Bitcoin position during that time.
Tesla reported over $1.2 billion in proceeds from selling Bitcoins, but the automaker still sits on a good amount.
-snip-
The move enabled Tesla to record a $600 million mark-to-market gain, accounting for a significant part of its $2.3 billion net income in Q4, which was already down 70% year-over-year.
Much more at original article: https://electrek.co/2025/01/30/a-quarter-of-teslas-earnings-were-due-to-recongnizing-a-600-million-gain-on-bitcoin/
Tesla is among the few large public companies that invested some of their cash into cryptocurrency.
-snip-
A year after the initial investment, Tesla’s Bitcoin holding increased to $2 billion, but the cryptocurrency lost a lot of its value in 2022 and the automaker’s position suffered – though the automaker also divested about 75% of its Bitcoin position during that time.
Tesla reported over $1.2 billion in proceeds from selling Bitcoins, but the automaker still sits on a good amount.
-snip-
The move enabled Tesla to record a $600 million mark-to-market gain, accounting for a significant part of its $2.3 billion net income in Q4, which was already down 70% year-over-year.
Much more at original article: https://electrek.co/2025/01/30/a-quarter-of-teslas-earnings-were-due-to-recongnizing-a-600-million-gain-on-bitcoin/
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