Tesla Reports $112M Impairment Loss on Bitcoin Treasury
The electric vehicle maker Tesla has faced a $112 million impairment loss on its bitcoin treasury holdings. Despite the decline in bitcoin value, Tesla maintained its 11,509 BTC treasury through the second quarter. The company's latest earnings report showed mixed results, beating revenue expectations but falling short on profit.
Tesla has reported an impairment loss of $112 million on its bitcoin treasury holdings amidst a 14% decline in bitcoin value. The electric vehicle maker maintained its 11,509 BTC treasury throughout the second quarter.
Tesla's latest earnings report showcased a mix of results,
beating revenue expectations but missing the mark on profit. The company's commitment to holding bitcoin has come under scrutiny as the cryptocurrency market continues to exhibit volatility.
Elon Musk's Tesla has been a prominent figure in the crypto space, with the company's CEO often making headlines for his remarks on digital currencies.