Tesla’s Paper Profit from Bitcoin Reaches $589 Million in Q4

In the period from October to December, Tesla recorded a profit of $589 million from its held bitcoins.

The company reflected the market price of the leading cryptocurrency on the reporting date following the approval of new accounting rules.

Prior to the implementation of the revised standards, corporations had to reduce the value of digital gold on their balance sheets when prices fell. A positive revaluation in the event of market improvement was not accounted for until the point of sale.

As a result, net profit for the specified period amounted to $2.3 billion and $7.1 billion for the year 2024 overall.

Thanks to these changes, Tesla’s bitcoin position grew to $1.076 billion by the end of 2024, up from $184 million in the previous quarter.

The company did not disclose the number of coins in its fourth-quarter report.

According to Arkham Intelligence, Tesla holds 11,509 BTC (~$1.21 billion) — a volume consistent with figures from November 2024.

According to BitcoinTreasuries, the electric vehicle manufacturer is the sixth-largest corporate holder of the leading cryptocurrency. The service’s data indicates the corporation owns 9,720 BTC.

In February 2021, it was revealed that Tesla invested $1.5 billion in bitcoin. Elon Musk described these investments as “quite risky.”

In the spring of the same year, the company began selling electric cars for digital gold, but later abandoned this option.

By the end of the second quarter of 2022, Tesla had converted approximately 75% of its cryptocurrency into fiat, yielding $936 million.

The profit from the operation amounted to $64 million. Considering the negative revaluation of bitcoins on the balance sheet at $204 million, the firm reported a “paper” loss of $140 million.