Tesla’s fourth-quarter net income surged due to a rule change in accounting for digital assets. The company reported a jump in bitcoin holdings, following the Financial Accounting Standards Board’s new policy requiring corporate digital assets to be marked to market each quarter. The shift resulted in a $600 million net income boost. Tesla is ranked as the sixth-largest Bitcoin holder among public companies.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Tesla's fourth quarter net income surge due to a rule change in accounting for digital assets.
00:07The company reported a jump in Bitcoin holdings following the Financial Accounting Standards
00:12Board's new policy requiring corporate digital assets to be marked to market each quarter.
00:17The shift resulted in 600 million net income boost.
00:21Tesla is ranked as the sixth largest Bitcoin holder among public companies.
00:24For all things money, visit Benzinga.com slash GSTV.