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Tesla, Musk Face Loss on Bitcoin Investment – Barrons

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https://www.barrons.com/articles/tesla-musk-bitcoin-51621783539

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The price of Bitcoin won’t stop falling, which means Tesla‘s Bitcoin holding is now very likely below where the company purchased its position. If that’s the case, an impairment loss will be recognized in the electric vehicle maker’s coming second-quarter earnings report, unless prices recover.

Bitcoin was down about 12% Sunday morning compared with Saturday prices, trading below $34,000. The leading cryptocurrency is down about 48% from its April 52-week high of more than $64,000.

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