Leading electric car maker Tesla holds around $2 billion worth of the flagship digital asset, Bitcoin, as of the end of last year. This was contained in the firm’s report to the United States Securities and Exchange Commission.
Tesla made $128 million profit from BTC
According to the filing, the “fair value” of the Elon Musk-led company’s Bitcoin holding as of the end of December is $1.99 billion. It was also revealed that the company views crypto as an investment and liquid alternative to cash.
A review of the report indicated that the company provided a timeline of the process leading to the accumulation of the asset.
Tesla, in early 2021 purchased $1.5 billion worth of Bitcoin, a historical purchase. The company holdings were further boosted when it began to accept the asset as a payment option for its vehicles.
The decision was later rescinded because of the environmental concerns of mining Bitcoin. However, the company has severally hinted that it could start accepting t
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