According to regulatory documents, in 2022, Tesla suffered a $204 million impairment loss on Bitcoin.
A profit from bitcoin trading countered the loss by $64 million, leaving the automaker with a net loss of $140 million.
In the first quarter of 2021, Tesla invested an aggregate of $1.50 billion in Bitcoin.
In March 2021, Tesla CEO Elon Musk announced that the company would begin accepting Bitcoin as payment for Tesla vehicles, driving up the prices of digital currency.
Later, Musk and Tesla reversed course on that choice, citing worries about the amount of energy required for Bitcoin mining. After that, BTC prices dropped.
After selling 75% of its Bitcoin holdings, Tesla informed investors in Oct 2022 that it still had more than $218 million worth of BTC.
Over the last year, there has been a sharp decline in the value of crypto. At the press time, the BTC price is $23,091.
