Tesla Bitcoin Stash Remains Untouched This Q1 2022; Still $1.26 Billion Worth

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According to the recently posted quarterly earnings report of the popular electric car manufacturer Tesla, its Bitcoin (BTC) holdings remain the same, still at about $1.26 billion worth, for the second straight quarter. This means that Elon Musk’s company did not buy or sell any BTC within the past 8 months, specifically last year’s Q4 and this year’s Q1.

Notably, Tesla also did not record any impairment to the value of its BTC stash due to the leading crypto’s global market price essentially remaining the same from the previous quarter to the next one. This is a stark contrast from last year’s Q3 report, where the company reported a $51 million impairment despite not adding or reducing its BTC holdings because of the apparent price decline of BTC back then.

As per today’s digital assets accounting rules, if the price of a particular asset decline during a quarter, a company currently holding said asset must report impairment. Conversely, suppose the price of the asset surges upward. It should not be reported as a gain on its balance sheet unless the said asset is sold or transacted.

As of press time, Tesla’s share price remains on an upward trend, rising by 3.6% to $1,012 per share this late Wednesday. That being said, its share prices remained down 3% since the start of 2022.

 

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