Laut engem ze fichéieren with the United States Securities and Exchange Commission on Jan. 31, electric vehicle manufacturer Tesla disclosed that it had recorded a $204-million gross impairment loss during 2022 on its Bitcoin (BTC) holdings. Simultaneously, Tesla recorded a gain of $64 million from converting BTC into fiat currency at various points during the year, resulting in a net loss of $140 million from its cryptocurrency trading activities.
The filing further explained the impact of volatile crypto prices on Tesla’s bottom line:
"Digital Verméigen ginn als onbestëmmten lieweg immateriellt Verméigen ënner applicabel Comptabilitéitsregelen ugesinn. Deementspriechend wäert all Ofsenkung vun hire faire Wäerter ënner eise Droenwäerter fir esou Verméigen zu all Moment no hirer Acquisitioun erfuerderen datt mir d'Bewäertungskäschte unerkennen, wärend mir keng Upward Revisioune fir all Maartpräisserhéijungen kënne maachen bis e Verkaf. Fir all digital Verméigen déi elo oder an der Zukunft gehale ginn, kënnen dës Käschten eis Rentabilitéit negativ beaflossen an de Perioden an deenen esou Behënnerungen optrieden, och wann d'Gesamtmaartwäerter vun dësen Verméigen eropgoen.
Verbonnen: Elon Musk lays out when Tesla will begin accepting Bitcoin payments
In the first quarter of 2021, Tesla invested $1.5 billion in Bitcoin. At the time, its founder, Elon Musk, ugekënnegt that the electric vehicle manufacturer would start accepting BTC payments from U.S.-based consumers.
The policy was retracted just months later, as Musk cited the need for “confirmation of reasonable (~50%) clean energy usage by [Bitcoin] miners with positive future trend” before the company would accept the means of payment again. Tesla reportedly sold 75% of its BTC holdings in the second quarter of 2022.
Source: https://cointelegraph.com/news/tesla-records-140m-bitcoin-net-loss-in-2022