Up until the end of March, it accepted Bitcoin as a payment for sales of certain products in specified regions but suspended this practice in May 2021.
Digital asset accounting rules state that if the price of an asset falls during the period, the company must report it as an impairment.
According to Bitcointreasuries, Tesla currently holds around 43,200 BTC worth an estimated $2.7 billion at current prices.
Tesla is the second-largest corporate holder of Bitcoin, according to the website, behind MicroStrategy, which holds around 114K BTC worth an estimated $7.4 billion at current prices.