At the end of 2021, Tesla had a bitcoin portfolio

At the end of 2021, Tesla had a bitcoin portfolio

Tesla sent a document to the US Financial Markets Regulatory Authority stating that it has a nearly $ 2 billion bitcoin portfolio.

Tesla had a nearly $ 2 billion bitcoin portfolio at the end of 2021

In a document sent to the US Financial Markets Regulatory Authority (SEC), Tesla, which last year invested $ 1.50 billion in bitcoin, reported a loss of about $ 101 million from its depreciation. cryptocurrency. The decline in its value has caused Tesla to make losses as the value of its bitcoin portfolio has declined.

Last year, for a short time, Tesla also accepted cryptocurrencies as a form of payment for certain products. However, CEO Elon Musk has stopped accepting digital currencies as a means of payment, citing concerns about the environmental impact of bitcoin mining operations, Reuters reports.

$ 128 million from the sale of part of the portfolio

In the crypto-financial context, in March last year, Tesla announced that it had earned 128 million dollars from the sale of a part of its bitcoin portfolio. In the period since then, Tesla has not revealed any changes to its bitcoin portfolio, according to the international press.

For “mining” bitcoin is to perform complex calculations on a computer to validate transactions in cryptocurrencies, an activity open to all on a decentralized network and which is remunerated by issuing new bitcoin. A significant portion of bitcoin miners have relocated to the United States, where they are looking for low-cost energy sources and a favorable political environment for cryptocurrencies.

Therefore, virtual currencies are a digital representation of the value that is not issued or guaranteed by a central bank or public authority, is not necessarily linked to a legally established currency and does not have the legal status of currency or money, but is accepted by natural or legal persons as a medium of exchange and which may be transferred, stored and traded electronically.