No Changes in Tesla’s Bitcoin Holdings in Q4 2021, The Financial Statement Shows

[ad_1]

The financial statements published by Tesla in regards to its Q4 2021 performance indicated that the firm’s BTC position had remained the same, worth approximately $1.26 billion.

  • It was roughly a year ago when Tesla filed a Form 10-K with the SEC, which revealed that it had purchased $1.5 billion worth of BTC. Moreover, the EV giant also started accepting the cryptocurrency for its products.
  • This has an immediate positive effect on the asset’s price. However, the tides turned a few months down the road when the company’s CEO – Elon Musk – said the firm will stop accepting BTC due to environmental issues.
  • Additionally, Tesla sold 10% of its bitcoin stash to test the liquidity, at least according to Musk.
  • Since then, though, the company has refrained from buying and selling more of the asset while dabbling with the idea of resuming BTC payments at some point.
  • The latest financial statements published Wednesday revealed that the company still held around $1.26 billion at the end of December 2021.
Tesla's Balance Sheet (Unaudited)
Tesla’s Balance Sheet (Unaudited)
  • Separately, Tesla reported that its revenue increased by 65% year over year in the quarter, while automotive revenue equaled $16 billion – up by 71%.
  • It’s worth noting that while Tesla still doesn’t accept bitcoin for payments for its products, the firm recently enabled such transactions to be done with Musk’s favorite memecoin – Dogecoin.
SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 25% off trading fees.

[ad_2]

Source link

You May Also Like

bitcoin
Bitcoin (BTC) $ 23,701.35 2.15%
ethereum
Ethereum (ETH) $ 1,630.31 2.44%
tether
Tether (USDT) $ 1.00 0.29%
usd-coin
USD Coin (USDC) $ 1.00 0.29%
bnb
BNB (BNB) $ 313.98 1.89%
xrp
XRP (XRP) $ 0.412410 0.25%
binance-usd
Binance USD (BUSD) $ 1.00 0.28%
cardano
Cardano (ADA) $ 0.389758 1.10%
dogecoin
Dogecoin (DOGE) $ 0.088635 0.06%
matic-network
Polygon (MATIC) $ 1.15 0.57%