By james art 
The stock of Tesla Inc. To Bitcoin gave its the latest quarterly results an increase, kindly with new accounting rules for digital assets.
Its net income has benefited $ 600 million from the digital marker market due to the perception of the accounting approach, said Chief Finance Officer Vaibhav Taneja to call for Tesla profit on Wednesday.
The corrected profit from the fourth quarter of the electric vehicle manufacturer was 73 cents per share, with average estimates of 75 cents analysts. But investors have taken a heart from the plan of Elon -led Musk to launch Robotaxi operations and the forecast for sales recovery this year, leading to their shares in expanded New York trade.
Tesla revealed a total of $ 1.5 billion in investment in Bitcoin in 2021, during a more cryptocurrency boom. Its last quarterly update lists net digital assets worth $ 1.08 billion in its balance sheet.
Council regulations on financial accounting standards requiring companies to record digital assets of fair value shall come into force this year, but more adoption is allowed.
The rules published at the end of 2023 are intended to capture the latest value of digital assets known unstable. Outbound practice only allows companies to record lower estimates, and businesses that rely on bitcoin announce such one-sided accounting treatment.
The cryptocurrency market is in the midst of the updated boom, encouraged by the promise of US President Donald Trump for supporting provisions. Bitcoin’s value more than doubled in the last year and hit a record $ 109 241 on January 20 before getting back. Bitcoin increased by about 1.4% to $ 105,150 on Thursday.