Tesla lost millions  in bitcoin

Create image :- google

According to regulatory documents, in 2022, Tesla suffered a $204 million impairment loss on Bitcoin.

Create image :- google

A profit from Bitcoin trading countered the loss by $64 million, leaving the automaker with a net loss of $140 million.

Create image :- google

In the first quarter of 2021, Tesla invested an aggregate of $1.50 billion in Bitcoin.

Create image :- google

In March 2021, Tesla CEO Elon Musk announced that the company would begin accepting Bitcoin as payment for Tesla vehicles, driving up the price of the digital currency.

Create image :- google

Later, Musk and Tesla reversed course on that choice, citing worries about the amount of energy required for Bitcoin mining. After that, BTC price dropped.

Create image :- google

After selling 75% of its Bitcoin holdings, Tesla informed investors in Oct 2022 that it still had more than $218 million worth BTC.

Create image :- google

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.

Create image :- google