Key Takeaways Tesla earlier this week reported a $600 million profit associated with its bitcoin holdings, which accounted for a little more than a quarter of its fourth-quarter profits.The company was able to book these bitcoin-derived profits thanks to a change in Financial Accounting Standards Board guidelines for crypto assets.

Roughly a quarter of Tesla’s earnings last quarter were due to recognizing a $600 million gain on Bitcoin. Tesla

Bitcoin has rallied over 50% since Donald Trump’s election win and is currently trading near the $106,000 mark.