{"id":546002,"date":"2023-01-31T17:58:37","date_gmt":"2023-01-31T14:58:37","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/tesla-records-140m-bitcoin-net-loss-in-2022\/"},"modified":"2023-01-31T17:58:37","modified_gmt":"2023-01-31T14:58:37","slug":"tesla-records-140m-bitcoin-net-loss-in-2022","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/tesla-records-140m-bitcoin-net-loss-in-2022\/","title":{"rendered":"# Tesla records $140M Bitcoin net loss in 2022"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a26e15802746\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a26e15802746\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/tesla-records-140m-bitcoin-net-loss-in-2022\/#%E2%80%9D_Tesla_records_140M_Bitcoin_net_loss_in_2022_%E2%80%9C\" >&#8221; Tesla records $140M Bitcoin net loss in 2022  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Tesla_records_140M_Bitcoin_net_loss_in_2022_%E2%80%9C\"><\/span>&#8221; Tesla records $140M Bitcoin net loss in 2022  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDEvNTIzMTlkMmQtZTRhZi00ZGExLWIxNDYtZDZkMmZmMjZhMGEyLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a4050f8>According to a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1318605\/000095017023001409\/tsla-20221231.htm#business\">filing<\/a> with the United States Securities and Exchange Commission on Jan. 31, electric vehicle manufacturer Tesla disclosed that it had recorded a $204-million gross impairment loss during 2022 on its Bitcoin (BTC) holdings. Simultaneously, Tesla recorded a gain of $64 million from converting BTC into fiat currency at various points during the year, resulting in a net loss of $140 million from its cryptocurrency trading activities.<\/p>\n<p>The filing further explained the impact of volatile crypto prices on Tesla\u2019s bottom line:<\/p>\n<blockquote><p>\u201cDigital assets are considered indefinite-lived intangible assets under <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>licable accounting rules. Accordingly, any decrease in their fair values below our carrying values for such assets at any time subsequent to their acquisition will require us to recognize impairment charges, whereas we may make no upward revisions for any market price increases until a sale. For any digital assets held now or in the future, these charges may negatively impact our profitability in the periods in which such impairments occur even if the overall market values of these assets increase.\u201d<\/p><\/blockquote>\n<p><strong><em>Related:\u00a0Elon Musk lays out when Tesla will begin accepting Bitcoin payments<\/em><\/strong><\/p>\n<p>In the first quarter of 2021, Tesla invested $1.5 billion in Bitcoin. At the time, its founder, Elon Musk,\u00a0announced that the electric vehicle manufacturer would start accepting BTC payments from U.S.-based consumers.\u00a0<\/p>\n<p>The policy was retracted just months later, as Musk cited the need for \u201cconfirmation of reasonable (~50%) clean energy usage by [Bitcoin] miners with positive future trend\u201d before the company would accept the means of payment again. Tesla reportedly sold 75% of its BTC holdings in the second quarter of 2022.\u00a0<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/tesla-records-140m-bitcoin-net-loss-in-2022\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Tesla records $140M Bitcoin net loss in 2022 &#8220; According to a filing with the United States Securities and Exchange Commission on Jan. 31, electric vehicle manufacturer Tesla disclosed that it had recorded a $204-million gross impairment loss during 2022 on its Bitcoin (BTC) holdings. Simultaneously, Tesla recorded a gain of $64 million from&#8230;<\/p>\n","protected":false},"author":1,"featured_media":546003,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/52319d2d-e4af-4da1-b146-d6d2ff26a0a2.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74894,74863,117,70359,36402],"class_list":["post-546002","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-blockchain","tag-cryptocurrencies","tag-business","tag-stocks","tag-tesla"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/546002","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=546002"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/546002\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/546003"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=546002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=546002"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=546002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}