Tesla recorded around $101 million of impairment losses from changes in the value of their bitcoin holdings in 2021.
- Elon Musk’s electric vehicle company disclosed these losses in a filing with Securities and Exchange Commission (SEC) explaining how its digital asset holdings could affects its profitability.
- “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 said that it made an aggregate investment of $1.5 billion in bitcoin in the first quarter of 2021.
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