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Tesla has reported a 204 million loss of impairment in 2022 for its bitcoin assets, according to the regulatory filings.
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The loss was partially offset by $64 million in profit from trading bitcoin, which left the automaker with net losses of $140 million.
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Tesla has put down $1.5 million in Bitcoin in the initial quarter of 2021.
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It also stated its belief in the long-term viability of bitcoin.
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The firm claimed that bitcoin was an excellent way to store money and be accessible immediately.
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At the same time, it offers an investment return higher than conventional central banks.