Tesla's Bitcoin Dump Leaves Accounting Mystery in Its Wake

Jul 22, 2022 · Tesla Inc. made waves this week when it announced that it had dumped the bulk of its Bitcoin stash. Selling 75% of its cryptocurrency gave the company a one-time cash infusion, …

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Tesla's Bitcoin Dump Leaves Accounting Mystery In Its Wake

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Jul 22, 2022 · Tesla Inc. made waves this week when it announced that it had dumped the bulk of its Bitcoin stash. Selling 75% of its cryptocurrency gave the company a one-time cash infusion, …

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"Really Vague": Tesla's Bitcoin Dump Leaves Accounting Mystery …

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Jul 25, 2022 · Selling 75% of its cryptocurrency gave the company a one-time cash infusion, Elon Musk's electric car company said, but the battered value of its remaining Bitcoin also dinged …

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Tesla’s Bitcoin Dump Leaves Accounting Thriller In Its Wake

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Jul 25, 2022 · Tesla Inc. made waves final week when it introduced that it had dumped the majority of its Bitcoin stash. Promoting 75% of its cryptocurrency gave the corporate a one …

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Tesla’s Bitcoin Dump Leaves Accounting Mystery In Its Wake

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Selling 75% of its cryptocurrency gave t (July 23): Tesla Inc made waves this week when it announced that it had dumped the bulk of its Bitcoin stash. Malaysia's #1 Content Aggregator

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Tesla’s Bitcoin Dump Leaves Accountants Puzzled: Report

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Jul 25, 2022 · Based on Tesla’s letter to shareholders, the sale of Bitcoin added US$936 million in cash to its balance sheet, Bloomberg said in its report. The electric car maker booked a …

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Accounting Rules Make The Outcome Of Tesla’s Bitcoin Sale Unclear

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Jul 24, 2022 · Bitcoin Q2 Price Performance (TradingView) Bitcoin opened the quarter trading around $45,000 and ended it below $20,000. Somewhere in there, amid a lot of selling, is …

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FAQs about Tesla's Bitcoin Dump Leaves Accounting Mystery in Its Wake Coupon?

What happened to Tesla's bitcoin stash?

This article is for subscribers only. Tesla Inc. made waves this week when it announced that it had dumped the bulk of its Bitcoin stash. Selling 75% of its cryptocurrency gave the company a one-time cash infusion, Elon Musk’s electric car company said, but the battered value of its remaining Bitcoin also dinged profits. ...

How did cryptocurrencies hurt Tesla's bottom line?

Selling 75% of its cryptocurrency gave the company a one-time cash infusion, Elon Musk’s electric car company said, but the battered value of its remaining Bitcoin also dinged profits. Exactly how crypto helped and hurt Tesla’s bottom line is difficult to disentangle, however, based on what it told the public on earnings day. ...

Why did Tesla lose $106 million from selling Bitcoin?

Chief Financial Officer Zachary Kirkhorn told analysts that the gain the company realized in selling Bitcoin was offset by an impairment charge, “netting a $106 million cost to the P&L,” referring to its profit and loss statement. Tesla recorded the charge in the expense line item, “restructuring and other,” Kirkhorn said. ...

Is Tesla's bitcoin sale a critique of bitcoin?

Tesla’s most recent bitcoin sale is certainly not a critique of bitcoin. When Tesla sold some bitcoin last April it did so to “test liquidity.” Now, in the second quarter, when it needed cash, there was ample liquidity to supply that cash. ...

Did Tesla's bitcoin sale add cash to its balance sheet?

Based on Tesla’s letter to shareholders, the sale of Bitcoin added US$936 million in cash to its balance sheet, Bloomberg said in its report. The electric car maker booked a “depreciation, amortization, and impairment” charge of US$922 million, but didn’t break out the line item, Bloomberg said. ...

Should Tesla sell its bitcoins for a profit?

What is clear, however, is that unless Tesla sells its bitcoins for a profit, the accounting treatment for its crypto position is skewed to the downside. If the crypto is as volatile over the next year as it has been over the past one, its fair to speculate that losses might be greater than expected in at least one quarter this year. ...