Tesla owns nearly $ 2 billion worth of Bitcoin

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Tesla owns nearly $ 2 billion worth of Bitcoin. By the end of 2021, They would have owned nearly $ 2 billion in Bitcoin. 

Tesla reports in the Securities and Exchange Commission (SEC) that the company bought a total of $ 1.5 billion worth of Bitcoin in 2021. Tesla currently owns $ 1.99 billion worth of Bitcoin.

Bitcoin prices hit a record high of more than $ 68,000 in early November last year, but are now trading below $ 43,000. They announced in May that it had stopped accepting Bitcoin as a form of payment, but stopped in May due to environmental concerns.

Tesla does not consider Bitcoin to be a mark-to-market asset that describes its market position, so only a currency transaction can have an impact on earnings. Therefore, even if you buy Bitcoin, it will not affect your profit or loss until you sell it.

According to SEC data, Tesla lost $ 101 million in 2021 from Bitcoin investments due to the declining value of the cryptocurrency. It said it had raised $ 128 million after selling part of its assets last March.

By 2021, the reorganization and other expenditures from Crypto cash flow were estimated at $ 27 million.