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Tesla Did Not Sell Bitcoin In Q2, Withdrew $23 Million In Bitcoin-Related Impairment

Mary Liu

Summary: According to Tesla's 2021 Q2 earnings call held on Monday,  as of the end of the second quarter in 2021, the company held $1.311 billion of BTC, and the Bitcoin-related impairment loss was $23 million.  In addition, the company reported a second-quarter (GAAP) net income of $1.14 billion, exceeding $1 billion for the first time, ...

According to Tesla's 2021 Q2 earnings call held on Monday,  as of the end of the second quarter in 2021, the company held $1.311 billion of BTC, and the Bitcoin-related impairment loss was $23 million. 

In addition, the company reported a second-quarter (GAAP) net income of $1.14 billion, exceeding $1 billion for the first time, an increase of ten times year-on-year. 

Tesla first announced that it had purchased $1.5 billion worth of Bitcoin in February. Later in the first quarter, the company sold 10% of its Bitcoin position, increasing its first-quarter earnings by $272 million.

By Mary Liu

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Link: Tesla Did Not Sell Bitcoin In Q2, Withdrew $23 Million In Bitcoin-Related Impairment   [Copy]
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