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Tesla held $2B of Bitcoin as of late 2021, SEC filing reveals



Elon Musk’s electrical automobile maker Tesla was holding about $2 billion price of Bitcoin (BTC) by the top of 2021, in line with official information.

The “fair market value” of BTC held by Tesla as of Dec. 31, 2021, was $1.99 billion, the corporate mentioned on Friday in its annual filing with the US Securities and Alternate Fee.

The filing reads that Tesla bought a portion of its BTC holdings in March 2021, with realized features of $128 million. The corporate beforehand introduced a historic $1.5 billion BTC buy final February.

In line with the filing, Tesla recorded $101 million of impairment losses on Bitcoin in 2021. “Gains are presented net of impairment losses in restructuring and other in the consolidated statement of operations. As of Dec. 31, 2021, the carrying value of our digital assets held was $1.26 billion, which reflects cumulative impairments of $101 million,” the filing notes.

As beforehand reported by Cointelegraph, Tesla bought a portion of its BTC holdings within the first quarter of 2021, producing internet proceeds of $272 million. The corporate was nonetheless holding on to BTC regardless of Tesla dropping Bitcoin funds assist over BTC’s environmental considerations in Might 2021.

Associated: SEC rejects MicroStrategy‘s Bitcoin accounting practices

According to data from Bitcoin Treasuries, Tesla currently holds about 43,200 BTC, which makes the company the second-largest identified Bitcoin investor after Michael Saylor’s MicroStrategy, amassing a complete of 125,000 BTC as of Jan. 31.

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