3 ms·
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?
by _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 agoYeah, pretty much. The value increase of Tesla's bitcoins since 2021/2022 was being ignored for accounting purposes until just now.
- freeone3000 2y agoIt 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.