Skip to content
Northwest Trail

Northwest Trail

  • Packaging Robots Advantages, Types and Overview Of The Market Business
  • Telecom Companies Promise More Than Rs 74,000 Crore To Restrain Call Drops News
  • Pimco feels central bank out of policies in the event of a recession Business
  • Mi AI Speaker Showcased By Xiaomi Technology
  • Learn To Ski As an Adult Technology
  • mAadhaar App For iOS To Roll Out Soon Technology
  • Unemployment numbers outpacing the government efforts News
  • Specialists of Many Areas Work at Chu Agency Business

About $2 billion in Bitcoin is currently in the possession of Tesla Motors

Posted on February 8, 2022 By admin No Comments on About $2 billion in Bitcoin is currently in the possession of Tesla Motors

In a new SEC filing, Tesla (TSLA) provided an update on its Bitcoin holdings, indicating that the company currently has $1.99 billion in the digital currency at its disposal.

About $2 billion in Bitcoin is currently in the possession of Tesla Motors

Tesla made a $1.5 billion investment in Bitcoin at the start of the year 2021.

After a short period of time, the company began taking bitcoin as payment for new vehicles.

Tesla, on the other hand, took a step back in terms of cryptocurrency a few days later by eliminating the Bitcoin payment option from the Tesla website. It was raised by the corporation that the Bitcoin network consumes a lot of electricity.

Vehicle purchases made with Bitcoin have been halted at Tesla. We are concerned about the fast expanding usage of fossil fuels for Bitcoin mining and transactions, particularly coal, which emits the highest levels of greenhouse gases of any fossil fuel used for mining.

See also  Plant Phenotyping Market Analysis 2020 to 2028

Several members of the Tesla community expressed concern about this when the firm originally announced its Bitcoin investment, and many were disappointed that the company hadn’t considered it before making the decision.

Tesla stated at the time that they were not planning to sell their Bitcoin holdings and that they intended to restart accepting Bitcoin payments once the network had a higher proportion of renewable energy in its composition.

Following improvements in the energy mix for Bitcoin mining, Tesla CEO Elon Musk stated this summer that the company anticipates returning to accepting Bitcoin payments.

See also  By 2028, the Epoxy Resin Market will be worth $19.55 billion

The company is still hanging onto the cryptocurrency, and it provided an update in its most recent 10-K SEC filing, which was published today.

After selling a portion of its Bitcoin holdings to test the market’s liquidity, the automaker revealed that it now has approximately $2 billion in Bitcoin at current market prices:

“We purchased and received $1.50 billion in bitcoin during the fiscal year ending December 31, 2021. We recognised $101 million in impairment losses on digital assets during the fiscal year ending December 31, 2021. Our gains from the sale of a portion of our interests in March 2021 were $128 million, which was a record for us. Gains from restructuring and other activities are reflected in the consolidated statement of operations after deducting any impairment losses. As of December 31, 2021, the carrying value of our digital assets held was $1.26 billion, which indicates cumulative impairments of $101 million over the previous three years. “As of December 31, 2021, the fair market value of such digital assets possessed was $1.99 billion,” the report states.

See also  Traveling In The Rain: 5 Tips For Driving In Rain Safely

During a spike in Bitcoin’s value last year, Tesla’s stock briefly rose by more than $1 billion..

Although Bitcion and the broader cryptocurrency market have since fallen, prices have begun to rise again in recent weeks, with Bitcoin rising by 15 percent in in the last week alone.

Automobile, Business

Post navigation

Previous Post: In the EU, Meta may be forced to close Facebook and Instagram
Next Post: Return to earlier searches using Google ‘Journeys’ now available in Chrome

Related Posts

  • Researchers have discovered a new additive material that might one day make fuel cell powered vehicles a reality Business
  • Altimeters on airplanes that aren’t working cause a lot of problems, Wireless receivers will be regulated by the FCC Business
  • Epoxy Resin Market
    By 2028, the Epoxy Resin Market will be worth $19.55 billion Automobile
  • Specialists of Many Areas Work at Chu Agency Business
  • Nuro Reveals Autonomous Delivery Van Automobile
  • Plant Phenotyping Market Analysis 2020 to 2028 Business

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Automobile
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Internet
  • News
  • Sports
  • Technology
  • Uncategorized
  • Internet’s major players are hit by Log4Shell 0-day
  • Chatbot Market will generate $110.30 billion by 2028
  • By 2028, the Epoxy Resin Market will be worth $19.55 billion
  • Genetics goes to the dogs and discovers that there is little that can be bred in terms of behavior
  • Altimeters on airplanes that aren’t working cause a lot of problems, Wireless receivers will be regulated by the FCC
  • 5 Ways to Handle Yourself During Cisco 200-301 Exam Sitting: Practice Tests as Your Savior from Anxiety Education
  • A travel planning app developed by Google has been shut down News
  • Resorts closing down due to coronavirus Health
  • Few Ways To Celebrate International Women’s Day, March 8, 2018 News
  • MixBooks Designs to Help You Enjoy Intimate Moments with Your Loved One Entertainment
  • Unemployment numbers outpacing the government efforts News
  • Customers are dissatisfied with Sony’s PlayStation 5 update News
  • The UK Principal Of Indian Origin Reverses The Hijab Ban Order News

Copyright © 2022 Northwest Trail.

Powered by PressBook News WordPress theme