World-renowned car manufacturer, owned by Elon Musk, Tesla had $2B in Bitcoin at the end of last year.
Multiple tech companies have opted for hodling their Bitcoin stashes amidst the recent market crash. With the prices slightly climbing back up, and Bitcoin gaining 14.81% over the last 7 days, it might seem to have been worth the wait.
According to the reports issued by Tesla to the US Securities and Exchange Commission (SEC), the electric car manufacturer held almost $2B worth of Bitcoin, with $101M in impairment losses throughout last year.
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe - We publish new crypto explainer videos every week!
What is Balancer in Crypto? Beginner Friendly BAL Explainer
"As of Dec. 31, 2021, the carrying value of our digital assets held was $1.26 billion, which reflects cumulative impairments of $101 million."
Likewise, based on the report, Tesla sold off some of its holdings back in March of 2021. This upped the company’s gains by $128M. At this time, Tesla holds just over 43K Bitcoin, putting the company just behind MicroStrategy, which had the most BTC holdings in 2021.
Currently, the price of Bitcoin is staying on an uprise, gaining 2.83% over the past 24 hours. BTC is now averaging $42,822.39.
