Tesla’s statement for the fourth quarter of 2021 shows the company’s holdings of Bitcoin
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Answer Tesla’s statement for the fourth quarter of 2021 shows the company’s holdings of Bitcoin
Financial data published by Tesla regarding its performance in the fourth quarter of 2021 indicated that the company’s bitcoin position remained the same, valued at approximately $1.26 billion.
Tesla was exposed to Bitcoin about a year ago when Tesla submitted a Form 10-K to the Securities and Exchange Commission, which revealed that it had bought $1.5 billion worth of Bitcoin.
Additionally, the electric car giant has also started accepting cryptocurrency for its products.
This had an immediate positive impact on the price of the cryptocurrency.
But the tide turned a few months later as CEO Elon Musk stated that the company would stop accepting bitcoin due to the environmental problems caused by bitcoin mining.Read:Binance platform blocks accounts linked to relatives of top Russian officials
In addition, Tesla sold 10% of its bitcoin stock to test liquidity, at least according to Musk.
Since then, the company has refrained from buying and selling more bitcoin.
revealed Latest financial data Which was published yesterday, Wednesday, that the company still owns about 1.26 billion dollars at the end of December 2021.
Tesla also reported that its revenue increased 65% year-on-year in the fourth quarter of 2021, while auto revenue reached $16 billion, an increase of 71%.
It is worth noting that although Tesla still does not accept bitcoin for payments for its products, the company has recently made it possible to conduct such transactions using the digital currency “Dogecoin” that the company’s director, Elon Musk, adores.Read:Ripple founder: We are a profitable company and there is no solution in sight except by selling XRP cryptocurrencies
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