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Tesla Writes Down $170M in Bitcoin Impairment Charges in Q2

Electric carmaker Tesla recorded a $170 million impairment charge against the carrying value of its bitcoin assets.
Sponsored SponsoredAccording to guidelines published by the Association of International Certified Professional Accountants, crypto assets are indefinite-lived intangible assets.
When it purchased its bitcoin last year, Tesla said it would examine its bitcoin holdings every quarter to check for impairments.
The bitcoin sale did not appreciably affect Tesla’s free cash flow.
Tesla not shunning bitcoin, says MuskCEO Elon Musk said that the sale does not indicate a broader shunning of bitcoin.

Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by TokenAround.


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