According to the annual report by Tesla, the Austin, Texas-based American electric vehicle and clean energy company will launch in 2021. bitcoinannounced a loss of $101 million in , with a book value of $1.26 billion. At the time of writing, the world’s largest electric car maker announced that it holds $1.99 billion worth of Bitcoin by the end of 2021.
Tesla Owns $2 Billion In Bitcoin By The End Of 2021
As the company reported to the United States Securities and Exchange Commission (SEC), Tesla’s “fair market value” of BTC held as of December 31, 2021 was $1.99 billion. The company previously announced a historic $1.5 billion BTC purchase last February. News that Tesla sold some of its BTC assets in March 2021 and earned $128 million in earnings had previously appeared in the press.
According to the filing, Tesla recorded a $101 million depreciation for Bitcoin in 2021.
“Gains are shown in the consolidated statement of operations after deducting restructuring and other impairment losses. As of December 31, 2021, the book value of our digital assets held was $1.26 billion, reflecting a cumulative impairment of $101 million.
Tesla in the first quarter of 2021 BTC assetsIt sold part of the company and generated $272 million in revenue. Although Tesla dropped support for Bitcoin payments in May 2021 due to BTC’s environmental concerns, the company still continues to hold Bitcoin.
According to data from Bitcoin Treasury, Tesla currently holds around 43,200 BTC, making the company the second-largest Bitcoin investor behind Michael Saylor’s MicroStrategy, accumulating a total of 125,000 BTC as of January.
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