Tesla had $1.5 billion worth of bitcoins at the end of last year

American electric vehicle (EV) company Tesla had about $1.5 billion (about Rs 11,200 crore) worth of bitcoins at the end of last year. The company has given this information in a filing to the US Securities and Exchange Commission (SEC). It has been told that in the last year the company has lost about 1010 million dollars in crypto investments.

Tesla head of Elon Musk He is a big supporter of cryptocurrencies and is particularly interested in the meme coin Dogecoin. Last year Tesla allowed bitcoin as a payment option, but soon removed this option, citing fears of damage to the environment from mining the cryptocurrency. Tesla has said that it may reduce its holdings in crypto assets based on business conditions and environmental factors. to the SEC filing “We believe that crypto assets have potential for long-term investment as well as use as a payment option,” the company said in a statement.

Musk has often been saying that for him bitcoin Instead of paying per day, it is a way of investing over a long period of time. However, his interest is more in Dogecoin. Tesla announced late last year that customers would be able to purchase a select range of its merchandise with Dogecoin. Tesla has kept the option of reintroducing crypto payments for its products and services open, despite market volatility and regulatory tightening.

Tesla’s revenue increased to $ 17.72 billion (about Rs 1,33,435 crore) in the fourth quarter. This is higher than analysts’ estimates of $16.57 billion, according to IBES data from Refinitiv. Compared to other automobile companies, Tesla has done well in handling supply chain constraints. For this, apart from using more number of available chips, the company has made efforts like changes in software. Tesla delivered a record number of vehicles to customers in the fourth quarter. Musk said that this year also the supply of the chip could be short. This problem is expected to go away next year.<!–


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