The electric car maker Tesla announced on January 31 that it had incurred a gross impairment loss of $204 million for the year 2022 on its holdings of Bitcoin (BTC). This information was included in a filing that was submitted to the United States Securities and Exchange Commission. During the same time period, Tesla reported a gain of $64 million from changing BTC into fiat money at different periods during the year. Nevertheless, the company’s cryptocurrency trading activities resulted in a net loss of $140 million for the year.
The filing provided more explanation about the effect that fluctuating cryptocurrency values have on Tesla’s bottom …
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