Tesla Reports $51 Million in Bitcoin-Related Impairments in Q3

Tesla Reports $51 Million in Bitcoin-Related Impairments in Q3

According to Tesla’s Q3 earnings presentation, the e-car manufacturer registered Bitcoin-related impairments of $51 million.

The company initially announced its mammoth $1.5 billion buy in February and later started accepting BTC payments, which were then halted in May due to environmental concerns.Tesla sold 10 percent of its Bitcoin in Q1 to test the flagship crypto’s liquidity. It left its position unchanged in Q2 but was forced to report an impartment loss of $23 million due to the Bitcoin price downturn.

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