File a report with the Securities and Exchange Commission (SEC)
“84 billion profit from the sale of Bitcoin in the second quarter”
“Sell 75% of your Bitcoin holdings in the second quarter of this year”
American electric car maker Tesla announced on the 25th (local time) that it suffered 223 billion won in valuation loss due to holding Bitcoin in the first half of this year.
The Wall Street Journal (WSJ) reported that Tesla had filed a report with the Securities and Exchange Commission (SEC) on the same day.
Tesla announced that it recorded an impairment loss of $170 million in its bitcoin holdings over the six months this year.
Cryptocurrencies such as Bitcoin are classified as intangible assets under US accounting regulations, and if the price falls from the time of purchase, it must be treated as an impairment loss.
However, Tesla also reported that it made a profit of $64 million (about 84 billion won) by selling Bitcoin in the second quarter.
Tesla announced on the 20th that it sold 75% of its bitcoin holdings when it announced its second quarter earnings on the 20th, and disclosed the amount of profit through this report.
Analysts have been raised among market experts that Tesla may have sold at a loss when it originally announced that it would dispose of Bitcoin in the second quarter.
However, Tesla reported that it made a profit through the report on the same day.
Tesla did not disclose the average unit price for buying and selling Bitcoin, which is the basis for realizing the profit.
Previously, Tesla purchased its first $1.5 billion worth of Bitcoin in the first quarter of last year, and even then, Tesla did not disclose the average purchase price.
Reporter Noh Jeong-dong, Hankyung.com dong2@hankyung.com