Tesla lost 140 million dollars on Bitcoin last year

Tesla lost $140 million on Bitcoin in 2022.

The electric supercar company made a huge net loss with the virtual currency last year, according to filings with the US regulator, that showed they recorded losses of $204 but made $64 back in trading.

The firm invested $1.5 billion in the beginning of 2021 in Bitcoin amid the CEO Elon Musk, 51, announcing they would accept it as payment. However, it swiftly dumped most of its stock of the cryptocurrency in July 2022 and currently owns roughly $184 million worth of Bitcoin.

Recently, Elon - who purchased the social media giant Twitter in late October for $44 billion - admitted that “something is wrong” on the microblogging site after right-wing accounts expressed concerns about engagement.

The billionaire - who severely reduced the number of staff working at the site when he took over - locked his own profile after Ian Miles Cheong and ‘Libs of TikTok’ complained the only way they were getting engagement on their posts was limiting their accounts.

After they brought it his attention, Elon deemed it “extremely concerning”

He also tweeted: “Made my account private until tomorrow morning to test whether you see my private tweets more than my public ones.

“This helped identify some issues with the system. Should be addressed by next week.”

Currently, the self-described “chief Twit” is being sued by Tesla investors after he posted on Twitter about potentially taking the company private, which they alleged cost them about $20 million as it caused the share price to leap up.

However, the SpaceX founder denies lying about his intention, telling a court in San Francisco that those messages were “absolutely what I believed”.

© BANG Media International