Tesla has revealed that it is still holding bitcoin worth $222 million in market value after selling 75% of its crypto holdings. The company recorded realized gains of $64 million on its recent bitcoin conversion into fiat currency.
Tesla Realizes Gains of $64 Million From Bitcoin Sale
Tesla Inc. filed its second-quarter report with the U.S. Securities and Exchange Commission (SEC) Monday.
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The company explained that it converted about 75% of its bitcoin holdings into fiat currency, as Bitcoin.com News reported last week. The BTC conversion added $936 million of cash to the electric car company’s balance sheet.
Tesla informed the SEC that in the second quarter:
We recorded $170 million of impairment losses resulting from changes to the carrying value of our bitcoin and
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