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Tesla's a crypto company. 25% of Tesla's earnings last quarter were crypto: https://cointelegraph.com/news/tesla-600-million-bitcoin-gain-q4-under-new-fasb-rul

• Dylan16807 2y ago
  That's multiple years of increase being accounted for all at once.
  • _DeadFred_ 2y ago
    So you're saying 25% of Tesla's earnings last quarter wasn't even earned last quarter and wasn't related to anything Tesla as business did?
    • Dylan16807 2y ago
      Yeah, pretty much. The value increase of Tesla's bitcoins since 2021/2022 was being ignored for accounting purposes until just now.
    • freeone3000 2y ago
      It was due to the change in IRS guidance on how to account for increases in value in cryptocurrency -- in short, treating it closer to a forex exchange (where the value is continually accounted) instead of a securities transaction (where the value is accrued when sold). The value then had to be retroactively accounted for.