Tesla reported on losses from investments in bitcoin

According to the financial report for the third quarter of this year, the automaker's investments in the firstcryptocurrency depreciated by $ 51 million.

Electric vehicle manufacturer Teslapublished a financial report for the third quarter of 2021, which takes into account a loss of $ 51 million from the company's investments in bitcoin. In June, the price of bitcoin dropped to a local minimum of $ 28.8 thousand. At the end of July, the rate of the first cryptocurrency began to recover and by the beginning of October was $ 47 thousand (an increase of 63% from a local minimum). At the same time, on October 20, bitcoin updated its historical maximum above $ 67 thousand (an increase of 133% from the local minimum).

According to US digital asset accounting rules,If they are depreciated during the quarter, the company must report losses. If the price of assets increases, then this is not reflected as profit on the company's balance sheet.

Tesla announced an investment of $ 1.5 billion inbitcoin in February. At the end of the first quarter, the company reported on the sale of bitcoins for $ 272 million with a profit of $ 101 million.According to the Bitcoin Treasuries service, Tesla currently owns 43.2 thousand bitcoins, the value of which is $ 2.8 billion (taking into account the current exchange rate of 10: 30 Moscow time).

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