Tesla Reveals $1.99B Worth of BTC in 2021 SEC Filings

Tesla Reveals $1.99B

Electric vehicle manufacturer Tesla held an estimated $1.99 billion worth of BTC at fair market value at the close of 2021 as per the Securities and Exchange Commission filings.

The report shows that the EV maker had $101 million in impairment losses in the same period, with the carrying value standing at $1.26 billion.

Tesla disposed of part of the BTC holdings registering $128 million in realized gains. The automaker had announced a record $1.5 billion bitcoin purchase last February.

Tesla kept holding on to its bitcoins despite withdrawing support for its payment last year, citing the environmental impact concerns.

The company had also announced $272 million from BTC sales in the first quarter of 2021.

Data from Bitcoin Treasuries shows that Tesla currently owns an estimated 43,200 BTC, becoming the second-largest institutional holder after MicroStrategy, which has over 125,000.

Source: Cointelegraph

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