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Year-end results show how much Bitcoin (BTC) Tesla still holds

 


Electric vehicle maker Tesla did not hit its bitcoin holdings in the last quarter of 2021, its Q4 report shows.



Tesla still holds bitcoin

The financial statements released by Tesla regarding its performance in Q4 2021 showed that the company's BTC position remains valued at around $1.26 billion, which is unchanged.


About a year ago, Tesla filed a Form 10-K with the United States Securities and Exchange Commission (SEC) showing that the company had purchased $1.5 billion worth of bitcoin. In addition, the EV maker started accepting bitcoin for its products, which had an immediate positive impact on the price.


However, the tide turned after a few months later the company's CEO, Elon Musk, said that the company would no longer accept Bitcoin due to environmental concerns.

In addition, Tesla sold 10% of its Bitcoin holdings in a bid to test liquidity, according to Musk.


Since then, the company has not made any further bitcoin sales, but has commented on accepting BTC payments again if certain conditions are met.


The financial statements were released on Wednesday, revealing that there were around $1.26 billion in BTC remaining on the balance sheet at the end of December 2021. Separately, Tesla reported that revenue for the quarter was up 65% year-on-year, while auto revenue was $16 billion, up 71%.


Tesla reported $51 million and $23 million in bitcoin-related impairments in the second and third quarters, respectively, due to falling prices.


After the company stopped bitcoin payments, the crypto market went through a major correction. Bitcoin is in the midst of a multi-month sell-off after the rally that propelled prices to record highs in November.



On Wednesday, BTC price surged as close as $39,000 after the Federal Reserve's decision to keep interest rates stable, prompting the price to turn lower again.

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