Tesla Reveals Bitcoin Holdings Worth $222 Million in Latest SEC Filing

Tesla Reveals Bitcoin Holdings Worth $222 Million in Latest SEC Filing


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.

Trending: DEVELOPING: FBI RAIDS Mar-A-Lago: “Under Seige, Occupied;” Cheers Breaking Out in Biden White House

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

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend