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Tesla got a $600 million boost from from a Bitcoin accounting change

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This story incorporates reporting from NBC New York , Bloomberg on MSN.com and https//beincrypto.com . Tesla recently reported a $600 million profit from its Bitcoin holdings. The gain is attributed to a change in digital asset accounting rules. This adjustment allows Tesla to record unrealized gains in Bitcoin. Previously, accounting practices required companies to use the Bitcoin cost until selling the asset. Suggested Reading SoftBank might invest $25 billion in OpenAI U.S. economic growth

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