Musk flipped the coin is not working? Tesla lost more than $600 million last year

Musk, who loves Bitcoin, has been punched in the face.

On February 7, Tesla submitted its 10-K annual report, mentioning that last year, due to changes in the book value of the company's bitcoin, it recorded an impairment loss of about $101 million (about 642 million yuan). Tesla also said in the filing that the company believes in the long-term potential of digital assets as a liquid alternative to investment and cash.

However, from the current overall situation of Bitcoin, it is not optimistic.

The data shows that bitcoin has fallen all the way since it rushed to a high of $67,000 last year. In January this year, the price of bitcoin fell directly below $35,000, and many institutions were bearish on bitcoin. In addition, the U.S. Securities and Exchange Commission (SEC) recently approved several bitcoin spot ETF applications, requiring the public to provide feedback on whether this type of ETF and bitcoin itself is susceptible to manipulation and fraud.

Tesla entered bitcoin in early 2021, when it bought $1.5 billion in bitcoin, and the price was speculated to be 35,000 yuan. After starting it, Musk himself repeatedly expressed his views on Bitcoin on his social media, sometimes strongly and sometimes negatively. The price of bitcoin that he mentioned also went up and down like a roller coaster, and Musk became a person in the coin circle who could manipulate it with his mouth.

Today, Tesla's bitcoin holdings has lost 600 million yuan, which is more like lifting a stone and dropping it on its own feet. Because of Bitcoin's own financial risk coefficient is extremely high, the price fluctuations are huge, even the world's richest man Musk has to lose money, not to mention the remaining retail investors.