Tesla (TSLA-US) 3/4 in the second season bitcoinAssets, lucky to escape and followbitcoinFell into the ravine of fate and cash out $936 million.
The remaining value of Tesla’s digital assets totaled $218 million, down sharply from the previous $1.2 billion. Tesla said in earnings report that the end of the second quarter has been 75% bitcoinConverted to fiat currency, adding $936 million in cash to the balance sheet.
Tesla was bullish at the beginning of last yearbitcoin“Long-term potential”, so invest $1.5 billion to buy, entering the second quarter,bitcoinThe fair price is regarding $46,000, while Tesla holds regarding 42,000bitcoinwith an average purchase price of $30,000.
By the end of the second season,bitcoinThe price is less than $19,000, which means that Tesla still has a loss of more than $11,000 in value for each piece, but unfortunately, Tesla has sold most of it at a higher price in the second quarter.bitcoin。
Tesla reports second-quarter earnings following the market close on Wednesday (20th), and most investors are ready to see the company write down significantlybitcoinonly to find that the company has sold 75% of itsbitcoin。
Barclays analyst Brian Johnson estimated earlier this week that if Tesla sticks to allbitcoin, its asset write-down may reach 460 million to 470 million US dollars.However, while Tesla still recognized a write-down in the second quarterbitcoinAssets of $106 million, but nowhere near as dire bitcoinnearly $1 billion more on the balance sheet, which roughly means that Tesla sold regarding 31,500 of them for regarding $30,000 each.bitcoin。
ConsiderbitcoinAt the price at the end of the second quarter, Tesla’s operation is really remarkable.
Tesla still holds regarding 10,500 coins on its booksbitcointhe current total value of regarding 200 million US dollars, the specific holding price should be disclosed in Tesla’s quarterly documents.
still holdDogecoin
Tesla CEO Elon Musk tweeted a lot last yearcryptocurrencyhe said on an earnings call on Wednesday: “We sold a lot ofbitcoinThe reason for the asset is that we are not sure when the Covid-19 lockdown in China will be lifted, so maximizing the cash on hand is important to us and this should not be seen as abitcoinvalue judgment. “
He added that Tesla is still interested in expanding in the future.cryptocurrencyAssets are open-minded.He also said that Tesla has not sold anyDogecoin。
However, referring to the “bitcoin“Potential as an inflation hedge”, Musk said that Tesla’s main goal is to accelerate the transition to sustainable energy, sobitcoinIt’s just “one following another sideshow”.
In the first quarter of 2021, TeslabitcoinThe decision was made to make cash holdings more flexible, diversifying and rewarding, and to make the cashbitcoinIt quickly sold 10% on the rise, knocking in $101 million in profit during the period.
Tesla Chief Financial Officer Zach Kirkhorn said the company’s intention was to “hold the asset long-term and accumulate it from customer car purchases.bitcoin。」
But in May last year, Musk stopped accepting customers to pay for mining, citing the environmental impact of mining.bitcoinbuy Tesla vehicles, but he added at the time that “the company will not sell anybitcoin‘, even mentioned on Twitter a week laterbitcoinWhen investing, he posted a picture showing that Tesla was “full of diamonds” and praised the company as a “coin master”.
Obviously, one year is enough to change everything.
escapebitcoinHavoc Tesla rose 1.45% to $753.30 a share in following-hours Wednesday. Ahead of the earnings report, the stock had closed higher for six straight sessions. However, Tesla shares were still down regarding 30% this year as of Wednesday’s close.