Tesla Expected to Report $440 Million Writedown on Its Bitcoin Holdings

The e-car maker is set to report a huge Bitcoin-related impairment

The world’s largest cryptocurrency is trading slightly above the $19,000 level at the time of writing this article.

Tesla caused a huge stir in the investment community by buying $1.5 billion worth of Bitcoin last February, pushing the price of the world’s largest cryptocurrency to record highs.The e-car maker sold some of its holdings back in March 2021 in order to test the cryptocurrency’s liquidity. Its Bitcoin stash has remained unchanged since then despite the fact that the company stopped accepting the leading coin for payments last May, causing a major price correction.

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