Tesla’s bitcoin holdings suffered a $140 million net loss last year

Tesla And Bitcoin Stock Pictures
Photo by Artur Widak/NurPhoto via Getty Images

Tesla has revealed that its bitcoin holdings lost $204 million of value last year In a new regulatory filing, which was partially offset by gains of $64 million from converting the digital currency into fiat. Overall, it suggests the company’s bitcoin investment resulted in a net loss of $140 million throughout the course of 2022, TechCrunch reports.

That’s a lot of money, but it’s small in comparison to Tesla’s initial bitcoin investment announced in February 2021, when it said it had bought $1.5 billion of the digital currency and planned to start accepting it as payment for its vehicles. But it didn’t hold on to the bulk of this investment for long. Tesla CEO Elon Musk revealed in June 2021 that it had already sold 10 percent of its…

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