Tesla Takes $51M Impairment Charge for Bitcoin Holdings in Third Quarter

Tesla Takes M Impairment Charge for Bitcoin Holdings in Third Quarter
Electric car maker Tesla (TSLA) took an impairment charge of $51 million in the third quarter to account for its bitcoin holdings.Elon Musk’s electric vehicle company reported no new sales or purchases of digital assets, according to its 3Q earnings presentation. The company currently holds $1.26 billion in bitcoin.Bitcoin gained roughly 30% in the third quarter, rising to about $43,800.Tesla announced in February it had purchased $1.5 billion worth of bitcoin. Later in Q1, the company trimmed its bitcoin position by 10%, a sale that boosted that quarter’s earnings by $272 million. Tesla also didn’t buy or sell any bitcoin…