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Tesla, which is "in love with digital assets", was "hurt" by Bitcoin this time!
Recently, Tesla revealed the "price" of its bitcoin ownership in its 10-K annual report file filed with the U.S. Securities and Exchange Commission (SEC): due to fluctuations in the price of the bitcoin market, tesla recorded an impairment loss of $101 million for the whole of last year.
For digital assets, including Bitcoin, Tesla also has the latest statement in the document - "believe in the long-term potential of digital assets as investments and alternatives to liquid cash".
Tesla and Bitcoin have a deep relationship, its series of statements and actions, and bitcoin trend hook up deeply, between the market interaction, there is no lack of "love and kill" plot.
However, from the current point of view, the bursting of the Bitcoin bubble is inevitable. As of press time, the latest price of bitcoin is $42773.1, although it has rebounded from the previous low, but it has been significantly "flagged" compared with last year's high. A number of experts have recently said that Bitcoin may enter a depression in the next few years.
An impairment loss of approximately US$101 million was made
According to Tesla's Filing 10-K filing with the SEC, in the year ended December 31, 2021, an impairment loss of approximately $101 million was recorded due to changes in the book value of the Company's Bitcoins.
Tesla said in the filing that as of December 31, 2021, the book value of its digital asset holdings was $1.26 billion, reflecting a cumulative impairment of $101 million. As of December 31, 2021, the fair market capitalization of such digital assets held was $1.99 billion.
In this document, Tesla also has the latest statement on digital assets!
Tesla said it believes in the long-term potential of digital assets as a liquid alternative to investment products and cash. "As with any other investment, we may increase or decrease our digital assets at any time based on our business needs and perceptions of market and environmental conditions. It's important to note that the market price of digital assets fluctuates all the time, so the price isn't necessarily friendly when we want or need to liquidate. ”
The "Love and Kill" drama continues to be staged
Tesla has a long history of bitcoin, as early as February 2021, Tesla revealed in a filing with the U.S. Securities and Exchange Commission that it bought about $1.5 billion worth of bitcoin as a strategic investment, a move that once pushed the price of bitcoin to the $50,000 mark.
On March 24, 2021, Tesla's official website in the United States showed that the user's purchase interface appeared bitcoin payment options. Bitcoin's price has once again skyrocketed, reaching as high as $64,000.
However, by mid-May of the same year, some users announced that Tesla had sold all the remaining bitcoins. Tesla CEO Musk also replied on social media: "Indeed. ”
Affected by this, the price of Bitcoin fell sharply. According to the data of the quotation platform CoinDesk, at 6:50 Beijing time on May 17, 2021, Bitcoin was quoted at $45,701.5, a 24-hour decline of nearly 5.3%, after falling to a low of $43,837.43.
On June 4, 2021, Musk sent two consecutive tweets with the topic of "Bitcoin" and heartbreak emojis, accompanied by a photo of a couple discussing a breakup.
As soon as the tweet was issued, the price of Bitcoin fell again, falling from above $39,000 to near $36,000, a drop of nearly 6% in 9 hours.
Meitu was also "planted" in the hands of Bitcoin
Tesla is not alone on the road of investing in Bitcoin and facing a large impairment loss.
Meitu announced in July last year that it had purchased a total of about 31,000 units of Ether and 940.89 units of Bitcoin from March to April last year for a total consideration of about $100 million.
According to the announcement, in accordance with IFRS, the fair value of the Bitcoin purchased by the Group decreased by approximately US$17.3 million (HK$134 million) on 30 June 2021 and is expected to be recognized as an impairment loss in the interim results, while the fair value of the purchased Ether purchased increased by approximately US$14.7 million and will not be recognized as a revaluation gain in the interim results.
Editor: Chen Yu
Proofreader: Feng Wenjun
Photo editor: You Feifei
Production: Zhang Wei
Editor-in-charge: Zhang Xiaoguang
Producer: Pu Hongyi
Issued: Pan Linqing