2 years ago
Tesla recorded a $101 cardinal impairment nonaccomplishment from changes successful the worth of its bitcoin holdings successful 2021.
"In the twelvemonth ended December 31, 2021, we recorded astir $101 cardinal of impairment losses resulting from changes to the carrying worth of our bitcoin and gains of $128 cardinal connected definite income of bitcoin by us," the filing said.
The Financial Accounting Standards Board (FASB) demands that companies disclose if the worth of their integer assets falls careless of whether the nonaccomplishment is realized. No specified stipulation exists if the worth rises.
Tesla said it invested $1.5 cardinal successful bitcoin successful the archetypal 4th of 2021. The marketplace worth of its bitcoin holdings arsenic of the extremity of 2021 was $1.99 billion.
Musk aboriginal said that the institution would judge the crypto erstwhile it is confirmed that 50% of mining uses cleanable energy.
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Jamie Crawley is simply a CoinDesk quality newsman based successful London.
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