Tesla Lost $101 Million In Bitcoin Drop

Electric vehicle manufacturer Tesla lost $101 million during the Bitcoin drop. In 2021, sales were realized at a loss.

Tesla has sent a file to the US Securities and Exchange Commission (SEC) explaining how its digital assets can affect its profitability. The filing included Tesla's approximately $101 million in impairment losses due to changes in the value of Bitcoin assets in 2021. The world-famous electric vehicle giant Tesla has been taking an intense interest in cryptocurrencies for a long time. So much so that the CEO of the company, Elon Musk, is constantly posting about this issue. If we recall, Tesla underlined that in the first quarter of 2021, it invested a total of $ 1.5 billion in Bitcoin. This time, Tesla mentioned Bitcoin in a file it sent to the US Securities and Exchange Commission (SEC). According to the file, Tesla suffered an estimated $101 million in impairment losses over the course of 2021 as a result of the change in value in Bitcoin. It should also be noted that the file sent by Tesla includes the following statements: “We recorded approximately $101 million in impairment losses resulting from changes in the book value of our Bitcoin and $128 million in gains from certain Bitcoin sales.”