Tesla Recorded $101M Impairment Losses on Bitcoin Holdings in 2021

Tesla recorded around $101 million of impairment losses from changes in the value of their bitcoin holdings in 2021.a filing with Securities and Exchange Commission"In the year ended December 31, 2021, we recorded approximately $101 million of impairment losses resulting from changes to the carrying value of our bitcoin and gains of $128 million on certain sales of bitcoin by us," the filing said.

Tesla said that it made an aggregate investment of $1.5 billion in bitcoin in the first quarter of 2021. The market value of its bitcoin holdings as of the end of 2021 was $1.99 billion.

Source: News Formal (newsformal.com)

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