Tesla Musk recognizes $600 million in Bitcoin book revenue for the first time
Mar 05, 2025 am 10:30 AMTesla released its fourth-quarter financial report this morning, with profits and revenue in the fourth quarter lower than analysts' expectations. CEO Musk once again emphasized the vision of FSD's driverless driving. Tesla also recognized Bitcoin’s unrealized benefits for the first time, recording a total of $600 million in book returns. The stock initially fell in after-hours trading and then rebounded.
Tesla's fourth-quarter profit and revenue were both lower than expected
Tesla's revenue grew only 2% from US$25.17 billion in the same period last year. Automobile revenue fell 8% to $19.8 billion from $21.56 billion a year ago, with $692 million coming from regulatory credit. The company said the decline in average selling prices of its Model 3, Model Y, Model S and Model X series products was the main reason for the decline in revenue.
Operating margin fell again to 6.2%, down from 8.2% in the same period last year and 10.8% in the previous quarter.
Musk: Unregulated FSD option will be unlocked
According to CNBC, Tesla pointed out at its shareholders' meeting on Wednesday that "affordability remains the most concerned issue for customers", and said that the company intends to review the cost of each car to make electric vehicles more affordable.
In recent quarters, Musk has been telling investors to pay less attention to the existing automotive business and the future of automation and robotics.
Musk said in his opening remarks of Tesla's earnings call that the company will "release unsupervised fully autonomous driving paid service" in Austin in June. "We have already let Tesla drive autonomously at our factory in Fremont, and we will soon achieve this in our factory in Texas." Musk acknowledged that he made significant commitments and predictions about autonomous driving, but has not been achieved for many years. He smiled and said, "I tell you, there is a damn wolf this time. You can drive it. In fact, it can carry you, it is an autonomous wolf!" Musk later added in the conference call that Tesla will "seek to release an unsupervised FSD in many parts of the United States by the end of this year." He said some mainstream auto companies are very interested in licensing the technology, but have not provided any name or schedule.
Bitcoin unrealized profits reached $600 million
Tesla's holdings of Bitcoin received $600 million in book revenue in the fourth quarter of 2024 as Tesla adopted new accounting standards that allow companies to adjust the value of digital asset holdings at market prices each quarter. Under the new rules, Tesla's digital asset holding value increased from $184 million in the previous quarter to $1.076 billion by the end of 2024.
Arkham data shows that the company holds about 11,509 BTC, which has not changed since mid-2022 and is currently worth about US$1.21 billion.
With $600 million in revenue from digital assets, Tesla reported that its fourth-quarter GAAP net revenue was $2.3 billion, with a total net revenue of $7.1 billion in 2024. Its adjusted earnings per share was $0.73, lower than expected $0.76.
TSLA fell first and then rose. Is the wolf really coming?
Tesla (TSLA) initially fell in after-hours trading and then rebounded afterwards. Although the profits and revenue in the fourth quarter were lower than expected, perhaps investors have paid for the bill again. Musk's era of fully autonomous driving is coming. Will it be a "wolf" again this time? Let's wait and see!
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