Recently Updated
Tesla continues to embrace the future of finance and cryptocurrency, with the company's recent 10-K report revealing some exciting developments. According to the report, Tesla sold 75% of all crypto assets they purchased in 2012, but the remaining assets are still valued at a staggering ~$191 million at the end of 2022.
It's important to note that Tesla made a substantial investment in crypto assets, acquiring $1.5 billion worth in 2021 and 2022. The company's decision to sell off a portion of these assets resulted in a total of $1.1 billion in sales during 2022, which is a testament to the success of their investment strategy.
Despite selling a portion of their crypto assets, Tesla's current portfolio still holds a significant amount of value and is a clear indication of the company's continued commitment to the future of finance.
Additionally, it's worth mentioning that Tesla made the groundbreaking decision to accept Bitcoin as a form of payment in 2021, which generated a lot of buzz in the financial world. However, the company later revoked this decision due to the environmental impact of Bitcoin mining. Despite this, Tesla still allows customers to purchase merchandise from shop.tesla.com using Dogecoin, showing their continued support for the crypto community.
In conclusion, Tesla's recent 10-K report is a positive reflection of the company's commitment to innovation and their role in shaping the future of finance. With a current portfolio valued at ~$191 million and continued support for the crypto community, there's no doubt that Tesla will continue to be a leader in the financial industry for years to come.
Tesla has recently revealed information about its crypto assets in its latest 10-K report. According to the report, Tesla has sold 75% of all the crypto assets that it purchased or received in 2021/2022, with a total value of $1.1 billion. This has reduced the company’s crypto holdings to approximately $191 million, down from its height of $1.99 billion at the end of 2021.
Tesla had originally purchased $1.5 billion worth of crypto assets, but the sale of 75% of those assets has left the company with a current value of $191 million at the end of 2022. Additionally, the company has lost an estimated $200 million in cumulative unrealized gains on these assets over the course of 2022.
In 2021, Tesla made headlines by announcing that it would accept bitcoin as a form of payment for its products and services. However, the company soon revoked this decision, citing the environmental impact of bitcoin mining as the reason for its change of heart. Despite this, Tesla still allows customers to buy some of its merchandise from shop.tesla.com using Dogecoin.
The current state of Tesla’s crypto assets highlights the volatility and unpredictability of the crypto market. Despite the company’s large initial investment, the value of its assets has fluctuated greatly, leading to significant losses. While Tesla’s decision to accept Dogecoin as a form of payment is a nod to the growing popularity of cryptocurrencies, it remains to be seen how much of an impact this will have on the company’s overall financials.
In conclusion, Tesla’s crypto assets are a small but noteworthy aspect of the company’s financial picture. While the company’s recent decision to accept Dogecoin for merchandise purchases is a nod to the growing popularity of cryptocurrencies, the company’s decision to sell off 75% of its crypto assets highlights the need for caution when investing in this market.
Source: Tesla’s latest 10-K report
Tesla's recent 10-K report has revealed some concerning information about the company's involvement in cryptocurrency. Despite acquiring $1.5 billion worth of crypto assets in 2021 and 2022, the company only managed to sell $1.1 billion of these assets in 2022. This means that a large portion of their investment is still unsold, valued at a mere ~$191 million at the end of 2022.
Additionally, Tesla reported losing ~$200 million in cumulative unrealized gains on crypto assets in 2022, highlighting the inherent risk and volatility of the cryptocurrency market. This loss raises questions about the wisdom of investing such a significant portion of the company's resources into the crypto market, especially given the uncertainty and unpredictability of the industry.
Tesla's decision to accept Bitcoin as a form of payment in 2021 also raises red flags, as the company later revoked this decision due to the negative environmental impact of Bitcoin mining. This change of heart raises questions about the company's commitment to sustainable practices and their understanding of the implications of their actions.
It's also worth noting that, despite revoking the decision to accept Bitcoin, Tesla still allows customers to purchase merchandise from shop.tesla.com using Dogecoin, a cryptocurrency with a questionable reputation and questionable long-term stability. This shows a disregard for caution and a lack of due diligence in their financial decisions.
In conclusion, Tesla's recent 10-K report raises serious concerns about the company's involvement in the cryptocurrency market. With a significant portion of their investment still unsold and a reported loss of ~$200 million in unrealized gains, it's clear that Tesla's involvement in the crypto market is not as lucrative or successful as they would like the public to believe. Their decision-making and financial practices continue to raise questions about the company's priorities and the wisdom of their investments.
Further Reading...
Elon Musk, who became the CEO and owner of Twitter after buying the company in late 2022, has made his mark on the platform by changing the web version’s logo from the iconic bird to a picture of a dog. The change was made on April 3rd, and some are speculating that it may have been an April Fool’s joke that was a few days late. The change came about...
Show more
Twitter has partnered with eToro to show live prices for stocks and crypto coins with cashtags. Cashtags are similar to hashtags but start with $ and have the stock market ticker next to them. Users will now see the stock/crypto price chart when they click on most of the cashtags. The social media platform, which was bought by Elon Musk in late 2022, used to link Robinhood previously, but now...
Show more
In a recent update, X has decided to discontinue its support for NFT profile pictures, a feature that was initially exclusive to Twitter Blue users, now rebranded as X Premium users. This feature allowed users to link their NFTs from OpenSea to their Twitter/X accounts, showcasing them as unique profile pictures. However, it seems that the adoption of this feature was not as widespread as anticipated, leading to its removal....
Show more
In a recent development, Tesla has enhanced its popular Model 3 sedan with HEPA filters, which were previously absent in this particular model. HEPA filters are renowned for their ability to remove fine particulate matter, gas pollutants, as well as bacteria, viruses, and pollen from the air. This upgrade comes as part of a broader refresh to the Model 3, which now boasts improved build quality, a small rear infotainment...
Show more
As Tesla gears up for the much-anticipated delivery event of its Cybertruck on November 30, 2023, a closer look at the Motor Vehicle Agreement reveals a noteworthy clause affecting early buyers. The clause stipulates a one-year restriction on reselling the Cybertruck after its delivery, with potential penalties for violators. The Resale Restriction Clause: According to Tesla’s Motor Vehicle Agreement, buyers are explicitly prohibited from selling or attempting to sell the...
Show more
Live Follower Count
Net Worth 🥈
~198.4 Billions
As of: 2024-05-04 08:12
Live Follower Count
Net Worth 🥈
~198.4 Billions
As of: 2024-05-04 08:12
Comments powered by Disqus.