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Tesla took a $34 million impairment charge on its bitcoin holdings last quarter as crypto values plunged

Elon Musk with a bitcoin symbol
Marco Bello/Win McNamee/Getty Images
  • Tesla reported a $34 million impairment charge on its bitcoin holdings last quarter, according to its recent earnings report.

  • The value of its bitcoin assets fell from $218 million in the third quarter to $184 million by the end of the fourth quarter.

  • Tesla has previously dialed back its exposure to bitcoin, and dumped 75% of its holdings in the second quarter of 2022.

Tesla took a $34 million impairment charge on its bitcoin holdings last quarter, according to figures from the EV maker's latest earnings report.

The company didn't buy or sell any bitcoin in the fourth quarter, leaving its holdings steady at 10,725 bitcoin.

But the continued sell-off in the crypto market late last year sent the value of Tesla's bitcoin to $184 million at the end of last quarter from $218 million in the third quarter.