Tesla Held $1.99B Worth Bitcoin at the End of 2021

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on whatsapp
WhatsApp
Share on telegram
Telegram

Tesla Held $1.99B Worth Bitcoin at the End of 2021

By Marielle Petere

Tesla Inc. (TSLA) submitted an annual report to the Securities and Exchange Commission. On Monday, it showed that the company held about $2 billion in bitcoin at the end of 2021.

“The fair market value of our bitcoin holdings as of December 31, 2021, was $1.99 billion,” the electric car maker stated.

Tesla and its bitcoin investment

In early February last year, Tesla confirmed that it bought a total of $1.5 billion in bitcoin. The electric car maker also accepted bitcoin as payment for cars in a short period, yet withdrew its decision in May due to environmental criticism.

“Because of the rapidly increasing use of fossil fuels for bitcoin mining,” Tesla CEO Elon Musk tweeted on May 12, 2021. He even added the company looked into cryptocurrency that used less energy.

After what happened, many people were puzzled because of Tesla’s abrupt cancellation of its decision for bitcoin as a payment option. Several Bitcoin investors were not delighted with Musk’s tweet.

But then, Tesla has never withdrawn its bitcoin investment. It even extended its support to another meme coin, Dogecoin, as Musk announced on Twitter that the company allowed customers to purchase its merchandise using DOGE in January this year.

$101M impairment loss in 2021

On the other hand, the company disclosed its impairment loss in 2021 worth $101 million from its bitcoin investment. Bitcoin had ups and downs last year with other digital currencies.

In July 2021, the price of the largest cryptocurrency by market cap dropped to $30,000. It happened when China implemented the crypto mining clampdown and a blanket ban against digital currencies.

Bitcoin and other virtual currencies had shown resilience as the global cryptocurrency market cap hit $3 trillion as of November last year. Bitcoin rallied to an all-time high and reached above $68,000.

Speaking of bitcoin loss, the company does not account for the cryptocurrency as a “mark-to-market asset”. Bitcoin could only affect when the electric car maker buys and sells.

CNBC reported that the drop in its value should not affect earnings as long as Tesla has not divested its holdings.

 

Editor’s Note:

Start investing In cryptocurrency with Bitxchange www.bit-xchange.org. If you’re new to the world of crypto and figuring out how to buy cryptocurrencies, then cryptocurrency exchanges like Bitxchange can help you to easily buy and sell crypto.

*Note We Deliberately Miss Spell Some Words or Add Capital Letters To Get Around Big Tech Censoring.

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on whatsapp
WhatsApp
Share on telegram
Telegram

Truthbook.social offering hundreds of thousands in giveaways for those joining its new social media platform as many desert Facebook in droves because of censoring

Here is some of the current incentives being offered to new users

Join www.truthbook.social our new social media platform backed by Independent Media. where you can speak the truth, and not be banned. Plus you'll receive $50 USD in www.truthcoin.social,the crypto currency backing the project, when you join, plus a lot more for sharing posts. www.truthbook.social

Subscribe for free to our ANR news emails and access 2 free ebooks plus Reports to share with family and friends about Covid fraud and the danger of the vaccines.

For ANR Smaller Donors please donate below to help fund our critical not for profit work. Together we can defeat mainstream media.

We are a not for profit Independent Media Company which survives off donations, even as little as $5 per month . Please donate now to help fund our work

Truthcoin Offer

$1000 USD turns into Now $6000 Truthcoin
$2,500 USD turns into Now $25,000 Truthcoin
$5000 USD turns into Now $65,000 Truthcoin
$10,000 USD turns into Now $150,000 Truthcoin
$15,000 USD turns into Now $250,000 Truthcoin
$50,000 USD turns into Now $1.15 Million Truthcoin
$100,000 USD turns into Now $2.5 Million Truthcoin

Leave a Reply

Your email address will not be published.

Play Video

McIntyre Report
Political Talk Show

We are a not for profit Independent Media Company which survives off donations, even as little as $5 per month . Please donate now to help fund our work

Raw Report

Ryan Jackson Saw show

in USD

in AUD

in GBP

in CAD

Jamie McIntyre

ANR on

Currency Exchange Rates in AUD

Live and updated every minute of the day

Current Price of Bitcoin 2.0
0.10 on Azbit

Nurses Speak Out

ANR Meme Report

with Nadine Roberts

Episode 002

21st Century Political System

Play Video

Editor's Pick

Get our free News Emails on latest articles, alerts and solutions for both legal templates and ways to help fight back against the Globalists vax Mandates , and health resources to boost your immune system and ways to Protect from deadly EMF 5G radiation and more.

FREE E-BOOKS AND REPORTS ALSO

Download the Full PDF - THE COVID-19 FRAUD & WAR ON HUMANITY