2 years ago
Tesla recorded $101 cardinal of impairment losses connected Bitcoin successful 2021, with the carrying worth accounting for $1.26 billion.
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Elon Musk’s electrical conveyance shaper Tesla was holding astir $2 cardinal worthy of Bitcoin (BTC) by the extremity of 2021, according to authoritative records.
The “fair marketplace value” of BTC held by Tesla arsenic of Dec. 31, 2021, was $1.99 billion, the institution said connected Friday successful its yearly filing with the United States Securities and Exchange Commission.
The filing reads that Tesla sold a information of its BTC holdings successful March 2021, with realized gains of $128 million. The institution antecedently announced a historic $1.5 cardinal BTC purchase past February.
According to the filing, Tesla recorded $101 cardinal of impairment losses connected Bitcoin successful 2021. “Gains are presented nett of impairment losses successful restructuring and different successful the consolidated connection of operations. As of Dec. 31, 2021, the carrying worth of our integer assets held was $1.26 billion, which reflects cumulative impairments of $101 million,” the filing notes.
As antecedently reported by Cointelegraph, Tesla sold a information of its BTC holdings successful the archetypal 4th of 2021, generating nett proceeds of $272 million. The institution was inactive holding connected to BTC contempt Tesla dropping Bitcoin payments support implicit BTC’s biology concerns successful May 2021.
Related: SEC rejects MicroStrategy‘s Bitcoin accounting practices
According to data from Bitcoin Treasuries, Tesla presently holds astir 43,200 BTC, which makes the institution the second-largest identified Bitcoin capitalist aft Michael Saylor’s MicroStrategy, amassing a full of 125,000 BTC arsenic of Jan. 31.
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