• Bitcoin
  • Altcoins
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Market Cap
What's Hot

EU Sets Sights on Active Role in Virtual World Creation

2023-11-29

Samsung Smart Glasses Set to Rival Apple in the XR Martket

2023-11-26

The Metaverse: A New Route for Porsche?

2023-11-24
Facebook Twitter Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
Facebook Twitter Instagram
The Crypto News Insider
  • Bitcoin

    Shocking Crypto Participation Report On Fortune 100 Companies

    2023-06-22

    Bitcoin, Ethereum Retraces After The BOE’s 50 Bps Rate Hike, US Fed Powell Testimony

    2023-06-22

    Crypto Liquidation Hits $216 Million As Bitcoin Leap Towards $31K

    2023-06-22

    When BlackRock Bitcoin ETF? Detailed Timeline And Implications

    2023-06-22

    Bitcoin Price Pumps To $30,000 Amid Renewed Bullish Sentiment As Wall Street Embraces Crypto

    2023-06-22
  • Altcoins

    SHIB enters critical zone, Shibarium beta launch might happen this week?

    2023-02-19

    Is Ethereum [ETH] setting up a big show ahead of Shanghai upgrade? 

    2023-02-19

    Shibarium Beta To Go Live Next Week: Rumors or Reality?

    2023-02-19

    Helium to migrate to Solana on this date, here’s how HNT reacted

    2023-02-19

    ETH tests 5-month high as whales retain this % of supply, more inside

    2023-02-19
  • NFT

    Magic Eden Launches New Diamond Rewards, Here Are 3 Easy Ways To Earn Them

    2023-03-30

    Magic Eden’s New Bitcoin NFT Marketplace Dominates Ordinals Market

    2023-03-30

    Pace Gallery Holds First Web3 Solo Exhibit Featuring Tyler Hobbs

    2023-03-30

    10 Best NFTs to Buy Right Now — The Top NFT Collections

    2023-03-30

    Unstoppable Domains Launches AI-Generated Avatars

    2023-03-30
  • Metaverse

    EU Sets Sights on Active Role in Virtual World Creation

    2023-11-29

    Samsung Smart Glasses Set to Rival Apple in the XR Martket

    2023-11-26

    The Metaverse: A New Route for Porsche?

    2023-11-24

    Experience ‘Rebirth’ at the 2023 Decentraland Music Festival

    2023-11-16

    ZEP-Near Partnership: Boosting Metaverse Platform Development

    2023-11-13
  • Analysis

    Whales Abruptly Move Over $850,000,000 in Bitcoin in Just 24 Hours – Here’s Where the Crypto is Going

    2023-04-16

    Trader Who Accurately Predicted 2023 Crypto Rally Unveils Full-Bull Scenario for Bitcoin – But There’s a Big Catch

    2023-04-16

    Crypto Trader Says Ethereum Altcoin That’s Exploded 190% This Year Is About To Hit New All-Time High

    2023-04-15

    Analyst Nicholas Merten Goes Short on Bitcoin (BTC) As ‘Over Exuberance’ Spreads in Crypto Markets

    2023-04-15

    Blockchain Association Shows Support for Banned Tornado Cash in New Amicus Brief Filing

    2023-04-15
  • Learn

    Is Bitcoin Halal? – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    2023-11-17

    Ordinals (ORDI) Price Prediction – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    2023-11-17

    Best GPUs for Mining Crypto in 2023. Overview of The Top Graphics Cards

    2023-11-17

    A Detailed Exploration – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    2023-11-07

    Market capitalization overview and explanation of its main factors

    2023-10-31
  • Market Cap
The Crypto News Insider
Home»Bitcoin»As BTC Plummets to $19,000, Elon Musk’s Tesla Reports $440 Million Impairment Losses
Bitcoin

As BTC Plummets to $19,000, Elon Musk’s Tesla Reports $440 Million Impairment Losses

2022-07-04Updated:2022-07-04No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

The world’s largest cryptocurrency Bitcoin (BTC) has struggled to maintain up with its restoration and has been buying and selling beneath stress at a worth of $19,000. After the large worth crash within the BTC worth this yr, Elon Musk’s Tesla Inc (NASDAQ: TSLA) has been dealing with a $440 million write-down on its Bitcoin holdings.

Final yr in February 2021, Tesla parked $1.5 billion of its reserve money into Bitcoin. This created a serious euphoria available in the market with Bitcoin peaking at $69,000 in November 2021. Though Tesla bought a few of its BTC final yr, it continues to carry the remainder.

With the Bitcoin (BTC) worth plummeting greater than 70% for the reason that starting of the yr, Tesla is dealing with impairment losses to the tune of $440 million. At the moment, the corporate’s Bitcoin investments have an estimated price of $820 million. Three months in the past, the corporate had recorded the worth of its Bitcoin investments at $1.2 billion. This implies, that in simply three months, the corporate has seen its Bitcoin worth holdings erode by 33%.

Aside from its funding, Tesla has additionally began accepting Bitcoin funds for a really transient interval. Nonetheless, it later determined to withdraw its choice citing environmental considerations with Bitcoin mining.

Tesla is just not alone to park a part of its money reserves into Bitcoin. Different corporations like MicroStrategy, Coinbase, and Block INc. have adopted this route. Enterprise intelligence agency MicroStrategy continues so as to add additional with its newest Bitcoin buy final week.

See also  Future Of Privacy Coins Uncertain After Tornado Cash Ban

Bitcoin (BTC) At A Important Junction

As mentioned, Bitcoin continues to commerce beneath stress round $19,100 ranges. As per market analyst Ali Martinez:

Bitcoin Transaction historical past reveals that $BTC must reclaim $19,500 as help as quickly as attainable to keep away from a downswing to $16,350.

Nonetheless, if Bitcoin (BTC) manages to register a sustained shut above $19,600, we will see an extra bullish worth motion forming as much as $22,000. Will probably be attention-grabbing to see what the market has to supply for the brand new week.



Source link

BTC Elon Impairment Losses Million Musks Plummets reports Tesla
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Despite Losses, Meta Remains Committed to AR and VR

2023-10-26

What Is Bitcoin Halving? An Overview and History of BTC Halvings

2023-10-20

Animoca Brands Raised $75 Million For Its Open Metaverse Vision

2023-10-05

Shocking Crypto Participation Report On Fortune 100 Companies

2023-06-22
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Quant (QNT) Price Defiles All Odds On A Bloody Day, Eyes $160

2022-09-28

Metaverse project avoids Web3 frenzy to redefine AAA digital landscape

2022-09-12

New Findings Shows Institutional Investors Take More Interest In Ethereum

2022-08-12

Subscribe to Updates

Get the latest news and Update from Thecryptonewsinsider.com about Crypto, Metaverse and NFT.

About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, NFT, Metaverse and more.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Top Insights

EU Sets Sights on Active Role in Virtual World Creation

2023-11-29

Samsung Smart Glasses Set to Rival Apple in the XR Martket

2023-11-26

The Metaverse: A New Route for Porsche?

2023-11-24
Get Informed

Subscribe to Updates

Get the latest news and Update from Thecryptonewsinsider.com about Crypto, Metaverse and NFT.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
© 2023 Thecryptonewsinsider.com. - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • Stride Staked InjectiveStride Staked Injective(STINJ)$16.49-4.32%
  • bitcoinBitcoin(BTC)$37,673.00-0.10%
  • ethereumEthereum(ETH)$2,035.850.59%
  • USDEXUSDEX(USDEX)$1.08-0.31%
  • tetherTether(USDT)$1.000.00%
  • binancecoinBNB(BNB)$227.170.11%
  • rippleXRP(XRP)$0.60-0.87%
  • solanaSolana(SOL)$59.21-0.10%
  • usd-coinUSDC(USDC)$1.000.00%
  • staked-etherLido Staked Ether(STETH)$2,033.910.59%
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage vendors Read more about these purposes
View preferences
{title} {title} {title}