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Elon Musk’s electric vehicle company Tesla finished 2021 with $1.99 billion worth of bitcoin, according to their recent annual filing with the U.S. Securities and Exchange Commision (SEC). In a filing early last year, the company announced that they had purchased $1.5 billion worth of bitcoin and expected to accept bitcoin as a form of payment:
We invested an aggregate $1.50 billion in bitcoin under this policy and may acquire and hold digital assets from time to time or long-term. Moreover, we expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt.
Although they began accepting bitcoin payments in March of 2021, Musk announced in May that they would be suspending payments citing environmental concerns. He clarified that Tesla would not be selling bitcoin.
Per the filing, Tesla recorded $128 million of realized gains after selling a portion of their bitcoin holdings in March 2021 and recorded approximately $101 million of impairment losses resulting from changes to the carrying value of their bitcoin.
According to data from Bitcoin Treasuries, Tesla currently holds approximately 43,200 bitcoin, second only to Michael Saylor’s MicroStrategy, which holds 125,051 bitcoin.