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