Tesla Inc. (Nasdaq: TSLA) released its earnings results for Q4 2022 on Wednesday. The company’s balance sheet shows net digital assets of $184 million, down from $218 million in the previous quarter. According to its other financial statements, no digital assets were bought or sold during the fourth quarter.
The electric car company’s digital assets comprise mostly bitcoin. The reduced value of its crypto holdings is due to fluctuations in the price of BTC, which led to an impairment charge of $34 million. At the time of writing, bitcoin is trading at $23,087; it fell from about $47.8K to around $16.6K during 2022.
Tesla has not revealed how many bitcoin it owns but an industry estimate suggests that it is hodling about 9,720 BTC. Besides bitcoin, Tesla also holds a small amount of dogecoin (DOGE) which it acquired from selling some merchandise for the meme cryptocurrency. The company began accepting payments in dogecoin for some merchandise in January last year.
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