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Tesla Lost $140 Million on Bitcoin in 2022

by News Desk
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This is the first time I’ve cropped this press shot to the proper thirds. it rules. I plan on doing this more often.
photograph: Tesla

If Tesla is one of them bleeding edge, forward thinking #disruptor enterprise of Company type it will have kombucha on tap if that bothers you about the employeeThat is why I am very interested in cryptocurrencies in the future. — and deeply invested match. In fact, the company invested so much that he could lose $140 million in Bitcoin alone in 2022.

In 2021, Tesla invested $1.5 billion in Bitcoin In fact, we made some modest gains on that money in 2022. SEC filing The company revealed that it made $64 million in profits from various bitcoin transactions last year, yielding a whopping 4.3% return. ) is obscured by

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photograph: Tesla

The sum of these gains and losses is a net negative of $140 million, representing almost 10% of the company’s initial investment. Incredibly, the numbers actually beat the traditional stock market — $SPY, an ETF tied to the S&P 500, Down over 18% during that same period. of course, Environmental impact of cryptocurrenciesit’s hard to say that these mitigated losses were worth it.

Curiously, Tesla’s SEC filings make no mention of other cryptocurrency holdings. CEO Elon Musk The company had Dogecoin in 2022but only bitcoin holdings appear on legal documents. The only digital currency Tesla currently claims to accept, you would think it is important enough to mention the regulator.But there’s probably more on that front — I don’t know when. the investigator dig something.

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