Tesla has not increased its Bitcoin holdings but instead reported a $600 million gain from its existing 11,509 BTC in the fourth quarter 2024, according to its latest Securities and Exchange Commison (SEC) filing.
The update marks Tesla’s first official disclosure of its total Bitcoin holdings under the new Financial Accounting Standards Board (FASB) rules that allow companies to report digital assets at fair market value rather than their lowest historical price.
Tesla originally purchased $1.5 billion worth of Bitcoin in early 2021, acquiring 39,474 BTC at an average price of $38,000 per coin. However, the company sold more than 70% of its holdings in 2022.
Tesla still holds 11,509 BTC, which is now valued at approximately $1.1 billion at Bitcoin’s current price of over $97,000, per Arkham Intelligence data.
The FASB’s fair-value accounting rules, implemented in December 2024, now allow corporations to report Bitcoin holdings at their actual market value, rather than their lowest price within an accounting period.
(This is a developing story)
