Elon Musk’s recent support for Florida Governor Ron DeSantis as a potential presidential candidate in 2024 was highlighted in June. Tesla’s reported net income for the fourth quarter saw a significant increase due to the company’s bitcoin holdings following a new rule change in accounting for digital assets. The Financial Accounting Standards Board’s policy change required companies to mark their digital asset holdings to market each quarter. Tesla’s earnings per share received a boost of 68 cents in the quarter due to this change, resulting in a $600 million net income increase. Despite falling short of analysts’ expectations, Tesla’s stock climbed in after-hours trading.
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