Tesla reported a $34 million impairment charge on its bitcoin holdings last quarter, according to its recent earnings reports

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The company purchased 9.3 million bitcoins at an average price of $224 per coin in 2013 and 2014. Today’s bitcoin market capitalization is approximately $44 billion. Tesla’s purchase of nearly one-third of all bitcoins at a time when the cryptocurrency was worth less than $200 per coin highlights the risk of investing in cryptocurrencies.

According to Tesla, it holds 7 percent of the estimated value of all bitcoins in circulation, or roughly $340 million worth.

Tesla has not disclosed the exact number of bitcoins it holds, but it did say that it purchased 9.3 million bitcoins at an average price of $224 per coin. That’s worth about $340 million as of March 31st, according to data from CoinMarketCap.com

The electric car company’s market cap is currently around $44 billion, which would put its stake in bitcoin valued at about 1 percent of its entire value—or roughly 0.03 percent of Tesla’s total valuation.

The company said it had no plans to sell its bitcoin holdings at that time, but it did not have any specific plan for them either.

Today’s bitcoin market capitalization is approximately $44 billion.

Bitcoin is a digital currency that can be used to buy things online and in brick-and-mortar stores. It’s also volatile, meaning that its value fluctuates widely over time.

The most popular way to purchase bitcoin is through an exchange like Coinbase or Bitfinex, which allow users to buy the currency by depositing cash into their bank account or making purchases with credit cards. Some people prefer trading bitcoin for other currencies, such as U.S. dollars or euros; others prefer swapping it for goods and services from their favorite merchants using one of dozens of payment processors (eBay, Amazon).

Bitcoin isn’t backed by any government agency — it doesn’t have legal tender status anywhere in the world — so there’s no guarantee when buying something with bitcoins will get paid back if you decide later on that you don’t want it anymore! And because this isn’t regulated by any financial authority at all (there aren’t even rules regulating how much cash exchanges should take out), there’s nothing stopping someone else from pretending they’ve already accepted your payment while actually sending nothing back: they could just keep taking money out until they run out – leaving everyone holding bags full of worthless tokens!

Tesla’s purchase of nearly one-third of all bitcoins at a time when the cryptocurrency was worth less than $200 per coin highlights the risk of investing in cryptocurrencies.

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Tesla has been a major player in the world of cryptocurrency, but its purchase of nearly one-third of all bitcoins at a time when the cryptocurrency was worth less than $200 per coin highlights the risk of investing in cryptocurrencies.

Tesla’s purchase of nearly one-third of all bitcoins at a time when the cryptocurrency was worth less than $200 per coin highlights the risk of investing in cryptocurrencies. The company has said that it bought these digital assets because they could be used to power electric cars, but if you’re trying to make money on them yourself, remember that this is not an investment vehicle—it’s more like speculation with an upside and downside.

Tesla is one of the most successful companies in the world, and it has been able to grow quickly despite its limited resources. But this also means that it may not be able to continue to succeed if cryptocurrency prices keep falling. The company recently announced plans to invest $2 billion into new products in 2024, but with bitcoin prices continuing their downward spiral and Tesla’s already high operational costs, there are questions about whether such an investment would pay off in the long run.