Tesla is holding around $2 billion in Bitcoin
As of Dec. 31st
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.
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