Tesla's Bitcoin bet hasn't gone all that great.
In its earnings report for the second quarter of 2022,Badhai Lo (2025) Hindi Web Series the company revealed it has sold three quarters of its Bitcoin holdings.
"As of the end of Q2, we have converted approximately 75% of our Bitcoin purchases into fiat currency. Conversions in Q2 added $936M of cash to our balance sheet," says Tesla's latest shareholder deck.
Tesla invested roughly $1.5 billion in Bitcoin back in 2021. If selling 75% of that netted $936 million in cash, that means the company lost roughly $189 million on its Bitcoin bet (so far), which isn't even that bad given how low the price of Bitcoin went earlier this year.
This Tweet is currently unavailable. It might be loading or has been removed.
Shortly after its Bitcoin purchase, Tesla said it would start accepting bitcoins as payment for its cars. That lasted only a couple of months, though CEO Elon Musk did say Tesla would resume Bitcoin purchases when the cryptocurrency gets greener. Notably, Musk said at the time that "Tesla will not be selling any Bitcoin."
During the company's earnings call Wednesday, Musk said Tesla sold the bitcoins to "maximize [its] cash position," which was important to do "given the uncertainty of COVID lockdowns in China." He also said that the company's decision to sell Bitcoin should not be taken as "some verdict" on the cryptocurrency, and that Tesla remains open to buy Bitcoin again in the future.
There's good news for fans of Dogecoin, though, as Musk said on the earnings call that the company hasn't sold any of the DOGE it owns. Tesla started accepting the cryptocurrency for some of its merch in January 2022, and later expanded that to accept DOGE at some Supercharger stations. There's no telling how much Dogecoin Tesla owns, though. According to the shareholder deck, the company still has $218 million in "digital assets," though the bulk of that has to be Bitcoin.
Topics Bitcoin Cryptocurrency
Previous：4GHz CPU Battle: AMD 2nd
Operation Mensch
Meaning by Richard Russo
Bite by Morgan Thomas
Is Robert Frost Even a Good Poet? by Jessica Laser
Skywatching is lit in May, says NASA
I Killed Wolf’s by Todd McEwen
Tracings by Sarah Aziza
The Hobo Handbook by Jeremiah David
Every MCU movie villain ranked, from "Iron Man" to "Thunderbolts*"
New Poetry: Margaret Ross, Nora Claire Miller, and Richie Hofmann Recommend by The Paris Review
The Dark Web: What is It and How To Access It
Horrific Surrealism: Writing on Migration by Viet Thanh Nguyen
Suzanne and Louise by Hervé Guibert
Suzanne and Louise by Hervé Guibert
4GHz CPU Battle: AMD 2nd
A Very Precious Bonjour Tristesse by Mina Tavakoli
Accurate Models of Reality by Sophie Haigney and Olivia Kan
from Lola the Interpreter by Lyn Hejinian
Trump administration to allow African elephant trophies back into U.S.
Making of a Poem: Nora Fulton on “La Comédie
We guess you could display flowers in this suspiciously NSFW vaseOK, shut it down: Bookies are taking bets on 'Pokémon Go'YouPorn launches a 'sex zodiac' service for horoscope loversBritish Airways was hacked, and its customers are paying the priceCrypto market is crashing hard again, here's whyNokia might be working on a phone with five rear camerasThe Colorado River is evaporating, and climate change is a big culpritRescue puppy's delightfully weird portraits scream 'adopt me'South Koreans rush to remote town on North Korean border to play 'Pokémon Go'Los Angeles officers cleared in shooting death of Redel JonesUber gives drivers voice control so they can keep their hands on the wheel74 percent of Americans have changed their relationship with FacebookThere’s a ‘Hamilton’ Easter Egg in ‘Marvel’s SpiderThese nuns buy stock in gun companies to fight for gun safety'Destiny 2: Forsaken' first impressions: The first 24 hoursThere’s a ‘Hamilton’ Easter Egg in ‘Marvel’s SpiderSon of Louisiana man killed by police urges peaceful protest, 'not guns''Crazy Rich Asians' stars try (and fail) to identify classic romcoms from iconic quotesEverything we know about the OnePlus 6TGuillermo del Toro convinced Alfonso Cuarón to direct 'Harry Potter' Best laptop deal: Get the Acer Swift Go 16 laptop for under $550 Football fans are betting on the Gatorade shower color. What color was it? Reading Roger Deakins’s Cinematography Blog Boo: Don't harsh my ghost The Paris Review Staff's Favorite Books of 2017 Redux: Lucia Berlin, Eileen Myles, Caleb Crain Borg is the latest example of TikTok making campus life a spectacle The Inventions of Witches Best streaming deal: Get six months of Max for just $2.99 per month What is subtle merch, and why is it all over TikTok? Staff Picks: Sohyang, Sacred Deer, and Steamers by The Paris Review Your endless scrolling on TikTok could be ruining your relationship An Interview with Kerri Pierce 'Wish' review: Disney's latest is a frustrating, self John Milton’s Strange Christmas Poem by Ed Simon A Study of Kanai Mieko Cocktails for Toasting the End of Patriarchy by Merrily Grashin I Must Enter Again the Round Zion of the Water Bead 9 best Black Friday air fryer deals: Instant Pot Vortex, more A Mother’s Ninth
2.03s , 10112.375 kb
Copyright © 2025 Powered by 【Badhai Lo (2025) Hindi Web Series】,Miracle Information Network