Tesla Holds $1.9 Billion Worth Bitcoin (BTC) as per Latest SEC Report
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- Bitcoin investment losses of $101 million were also recorded by Tesla.
- Dogecoin was accepted as a form of payment by the EV firm earlier this year.
Tesla’s crypto portfolio still includes Bitcoin, according to recent sources. Tesla, the electric car and sustainable energy firm founded by Elon Musk, is a significant player in the stock market. At the end of the year in 2021, Tesla’s cryptocurrency assets were valued $1.9 billion, up from the company’s initial investment of $1.5 billion in the first three months of 2021. Bitcoin investment losses of $101 million were also recorded by Tesla in its financial reports.
The filing read:
“In the first quarter of 2021, we invested an aggregate $1.50 billion in Bitcoin. The fair market value of our bitcoin holdings as of December 31, 2021, was $1.99 billion.”
Long-term Plans in Consideration
A Tesla financial report for the fourth quarter of 2021 has just been made public by the SEC. The electric car manufacturer’s financial report revealed that it is still open to the idea of acquiring and keeping digital assets. According to the most recent financial reports, the company has held its stake in the venture. According to the company, it has made about $2 billion in green investments thus far.
After first refusing to accept Bitcoin as payment for its automobiles, Tesla has seemed to hold on to the asset. If the network can prove that it is fueled by at least 50% renewable energy, Elon Musk says Tesla would restart taking the top cryptocurrency as payment. In contrast, Dogecoin was accepted as a form of payment by the EV firm earlier this year.
Alongside MicroStrategy and Block, many institutions are long-term crypto investors. As of late, MicroStrategy has added $25 million worth of Bitcoins, bringing its total holding to 125,051 Bitcoins.
Cryptocurrency
