In the most recent SEC filing, Tesla discloses Bitcoin holdings worth $222 million

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Last Updated on July 26, 2022 by Bitfinsider

Tesla Inc. submitted its second-quarter earnings report to the Securities and Exchange Commission (SEC) on Monday.

According to Bitfinsider, the company explained that it converted approximately 75% of its bitcoin holdings into fiat currency. The BTC conversion added $936 million to the balance sheet of the electric car company.

Tesla initially purchased $1.5 billion in bitcoin in the first quarter of 2021. During the same quarter, the company sold $272 million in BTC. In the first quarter of 2021, the price of bitcoin fluctuated between $32K and $59K.

According to the SEC filing, the electric car company earned $128 million from converting its BTC into fiat currency in Q1 2021. Furthermore, the company suffered $23 million and $50 million in bitcoin impairment losses in Q2 2021 and 1H 2021, respectively.

Tesla clarified in its Monday SEC filing that it purchased $1.5 billion in bitcoin in Q1 2021. Furthermore, during the first half of this year, it received “an immaterial amount” of digital assets.


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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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