Tesla's Bitcoin Holdings Surge in Profit, Market Capitalization Ranking Draws Attention
According to the latest accounting standards, Tesla recorded a book gain of $600 million in the fourth quarter of 2024 due to its Bitcoin holdings, increasing the value of its digital asset holdings to $1.076 billion. This change reflects a more than 50% increase in Bitcoin during the quarter, demonstrating the significant volatility of the digital currency market.
Although Tesla did not disclose the specific amount of Bitcoin held, data from Arkham Intelligence indicates it holds approximately 11,500 Bitcoins. This information had a noticeable impact on the market, with Tesla's quarterly net income reaching $2.3 billion and driving its stock price to rebound 4.15% in after-hours trading.
This event not only highlights the importance of digital currencies in corporate finance but also sparks interest in the market regarding on-chain data from blockchain and the market capitalization rankings of digital currencies.