Tesla: the fall of bitcoin led to some losses – 07/25/2022 at 16:12

(CercleFinance.com) – Tesla announced on Monday that it suffered a loss of $170 million in the first half of its investment in bitcoin.

The electric vehicle maker – which revealed it had invested some $1.5 billion in cryptocurrency in early 2021 – says that shortfall was partially offset by a $64 million gain from converting bitcoin into cryptocurrency. other traditional currencies.

For the record, the price of bitcoin fell by almost 60% over the first six months of the year, victim of the rise in interest rates, galloping inflation and geopolitical tensions.

While bitcoin traded at $47,687 at the start of the year, it was only trading at $19,785 at the end of June.

In its so-called ’10-Q’ quarterly report, Tesla also indicates that it has received new subpoenas from the SEC in the case of Elon Musk’s tweets in which the businessman claims that he designated delisted group.

According to the company, the stock market watchdog is seeking more information on the mode of governance adopted by the Californian manufacturer following the agreement that was concluded with the SEC in order to settle the case amicably.

On the New York Stock Exchange, Tesla shares fell 0.2% on Monday morning following these announcements.

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