Tesla has sold most bitcoins and lost nearly 1.4 billion yuan in 2022

CTOnews.com February 1 news, Tesla confirmed that it still holds bitcoin, but has sold a lot, and because of the cryptocurrency and lost 200 million US dollars (currently about 1.352 billion yuan).

In early 2021, Tesla invested $1.5 billion in bitcoin. Soon after, the automaker began accepting cryptocurrency as payment for new cars. However, a few days later, Tesla canceled the option to use Bitcoin payments.

CTOnews.com learned that Tesla recently released its 10-K annual financial filing with the Securities and Exchange Commission (SEC), announcing more details about the "digital asset restructuring."

The company wrote in the filing:

In 2022 and 2021, we purchased and/or received $1.5 billion worth of non-material digital assets. As of December 31, 2022, we have converted approximately 75% of our digital assets into fiat currency. In 2022 and 2021, we recorded impairment losses of $204 million and $101 million, respectively, on these digital assets, and gained $64 million and $128 million, respectively, by converting our digital holdings into fiat currency. These gains are net of restructuring and other impairment losses in the consolidated statements. As of December 31, 2022 and December 31, 2021, the book value of digital assets we held was $184 million and $1.26 billion, respectively, representing cumulative impairment losses of $204 million and $101 million, respectively.

In short, Tesla sold most bitcoins in 2022, but the company still holds bitcoins worth about $184 million (currently about 1.244 billion yuan), while taking impairment losses of $204 million (currently about 1.379 billion yuan) in 2022.