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Electric car manufactured, Tesla, filed its annual report with the U.S. Securities and Exchange Commission (SEC) last Friday. The documents reveal Elon Musk’s company holds Bitcoin at a value of almost $2 billion as of December 31st, 2021.
The filings read:
“The fair market value of our bitcoin holdings as of December 31, 2021, was $1.99 billion.
We continue adapting our investment strategy to meet our liquidity and risk objectives, such as investing in U.S. government and other marketable securities, digital assets and providing product-related financing.”
The report details that Tesla purchased $1.5 billion in BTC in the beginning of the year, later accepting the cryptocurrency for payments of certain products in some regions. Although, the firm stopped accepting BTC payments already in May last year, it told the SEC in October that it might enable payments with the cryptocurrency once again.
Tesla also informed the SEC:
“We believe in the long-term potential of digital assets both as an investment and also as a liquid alternative to cash.
We may increase or decrease our holdings of digital assets at any time based on the needs of the business and on our view of market and environmental conditions.”