In a filing with the Securities and Exchange Commission on Monday, Tesla ($TSLA@US) revealed that it suffered $101 million in losses on its Bitcoin (
$76,321.00 ) holdings in 2021. The EV maker said that the fair market value of Bitcoin ( $76,321.00 ) at the end of 2021 was nearly $2 billion, having invested $1.5 billion in Bitcoin ( $76,321.00 ) in the 1st quarter. What makes this interesting? Tesla became one of the first big companies in the world to seemingly go all-in on Bitcoin ( $76,321.00 ) . Aside from its investments, Tesla recently started accepting Bitcoin ( $76,321.00 ) in its online store, but it retracted the notion after public backlash against the environmental impact of cryptocurrency. Tesla CEO, Elon Musk, has long been a Dogecoin (
$0.106 ) bull as well, with Tesla recently accepting Dogecoin ( $0.106 ) in its online store. Why is Dogecoin ( $0.106 ) still accepted in the Tesla store? It uses a proof of work consensus that uses scrypt technology, thus making it less energy-intensive. At press time, Bitcoin ( $76,321.00 ) was trading just under $43,000, up 3% on increasing volume and a rising market cap.
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$2,259.00 ) Blockchain News
