9621 Agnes Crossing, Lake Suzanneview, New Mexico Island 84604-9295.
OUR Teslaone of the leading companies in Elon Muskin the middle of last year invested about US$1.5 billion (~ 7.95 billion reais) in bitcoin (BTC). With this billion
OUR Teslaone of the leading companies in Elon Muskin the middle of last year invested about US$1.5 billion (~ 7.95 billion reais) in bitcoin (BTC). With this billion dollar figure in mind, until today, the company has registered $170 million (~ BRL 900 million) unrealized losses – with significant changes in the value of the crypto asset. The problem is compensated by the gain $64 million realized gains through currency at various points since 2020, which means a net loss of $106 million (~ 560 million reais) by the end of the third quarter.
With this billion dollar figure in mind, the company has recorded an unrealized loss of BRL 900 million to date.
The losses do not affect the company’s core business, according to a document published in the latest earnings report filed with the U.S. Securities and Exchange Commission (SPK / Commission on Security and Exchange). Annually profit increased 169% compared with $3.3 billion for the first nine months of last year. The company is still ok. $218 million (~ 1.1 billion reais) in BTC on your balance.
In this context, according to North American accounting rules, crypto assets intangible assets uncertain life. Reducing possible values will require Tesla to recognize the so-called “depreciation deductions”, while the responsible persons do not make changes to the price increase before the sale. Losses from this segment may be deducted from profits to reduce tax liabilities; Capital gains are not taxable until the sale is completed.
Using US accounting rules as a basis, crypto assets are intangible assets with an indefinite life.
This is not the first (and probably not the last) step of Elon Musk’s companies into the crypto world. The entrepreneur is an enthusiast of the segment, and recognized for the support of some representatives, with Dogecoin (DOGE), even when faced with serious controversy and obstacles.
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“99.9% of cryptocurrencies will fall to zero,” says the creator of Dogecoins.
Billy Marcus believes that the largest cryptocurrencies will lose about 90% of the value
Source: Exam
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Source: Mundo Conectado
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
