Elon Musk’s Tesla Records $600 Million In Paper Gains On Bitcoin In Q4 Thanks To New Accounting Rule

Electric vehicle behemoth Tesla Inc. (NASDAQ:TSLA) reported an unrealized gain of $600 million on its cryptocurrency holdings in the fourth quarter.

What happened: Tesla’s balance sheet showed $1.07 billion in digital assets, up from $184 million from the last several quarters, according to the company’s earnings report released Wednesday after the market close.

The company also reported a mark-to-market gain of $600 million on digital assets in the fourth quarter. For context, this was 26% of the total income made by the Elon Musk-led firm in the quarter.

Note that Tesla doesn’t provide a breakdown of its digital holdings. However, …

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