Tesla’s Bitcoin Reserves Amount to $1.26 Billion

US-based electric car manufacturer Tesla released its financial statements on Wednesday.

According to the document, the company’s reserves in Bitcoin did not change for the second quarter in a row and amounted to $1.26 billion.

In February 2021, Tesla announced it has invested in BTC. The company invested about $1.5 billion into the cryptocurrency. Over the past two quarters, Elon Musk’s team has not bought or sold a single BTC.

In its third-quarter earnings report, Tesla reported it had lost $51 million from its investment in BTC.

Last spring, the company’s CEO Elon Musk announced the dangers of Bitcoin mining and banned the acceptance of cryptocurrency in the company as a means of payment due to its environmental impact.