Waivly

Share this post
Tesla is holding around $2 billion in Bitcoin
www.waivly.com
Crypto

Tesla is holding around $2 billion in Bitcoin

As of Dec. 31st

Feb 8
Comment
Share

Over the weekend, Elon Musk’s electric vehicle company Tesla filed an annual report with the U.S. Securities and Exchange Commission (SEC), revealing it held about $2 billion worth of Bitcoin as of December 31st.

⠀

The company first invested a total of $1.5B in bitcoin last February and later registered around $101 million in impairment losses due to bitcoin’s value.

⠀

"In the year ended December 31, 2021, we recorded approximately $101 million of impairment losses resulting from changes to the carrying value of our bitcoin and gains of $128 million on certain sales of bitcoin by us," the filing said.

⠀

Tesla has had a rough relationship with bitcoin. Not long after the investment was revealed, Musk announced Tesla would accept Bitcoin as a form of payment to purchase its electric vehicles. By May, Musk went back on this due to concerns surrounding the environmental impact of bitcoin mining.

⠀

For more from us at Waivly, join our free fun-to-read and to-the-point newsletter enjoyed by hundreds of people across the internet every day of the week 👇

CommentComment
ShareShare

Create your profile

0 subscriptions will be displayed on your profile (edit)

Skip for now

Only paid subscribers can comment on this post

Already a paid subscriber? Sign in

Check your email

For your security, we need to re-authenticate you.

Click the link we sent to , or click here to sign in.

TopNewCommunity

No posts

Ready for more?

© 2022 Waivly
Privacy ∙ Terms ∙ Collection notice
Publish on Substack Get the app
Substack is the home for great writing