Bitcoin (Bitcoin) is currently the most valuable cryptocurrency on the global market, created in 2009, invented by Satoshi Nakamoto, and officially launched the Bitcoin financial system. On Monday, US electric car maker Tesla announced that the market value of its cryptocurrency assets owned by the company is $1.99 billion as of December 31, 2021.
The company, which invested $1.5 billion in Bitcoin last year, said it will suffer losses of around $101 million in 2021 due to the cryptocurrency’s devaluation. Tesla also said it sold some of its cryptocurrency assets last March, raising $128 million. Recall that Tesla used to accept bitcoin as payment for some products. Later, the company stopped this practice, citing the environmental damage caused by mining digital money.
Remember that Tesla started accepting payments for some products in Dogecoin in the middle of last month, which gave a boost to the memetic cryptocurrency. It’s worth noting that only a small number of Tesla accessories can be purchased with Dogecoin, including a whistle in the shape of the upcoming Cybertruck pickup and a belt buckle dedicated to the Gigafactory in Texas.
When considering investing in this digital asset ecosystem, investors should hold two distinct frameworks. The first framework examines the inclusiveness of Bitcoin as an emerging cryptocurrency commodity, and the second considers adding other digital assets that are risky investments in nature.