(Bloomberg) -- Tesla Inc. is holding onto its pioneering stake in Bitcoin, an investment that helped legitimize the world’s largest electronic currency.
The electric-car manufacturer disclosed in February that it had invested $1.5 billion in Bitcoin, and subsequently sold 10% of its stake in April. In its latest earnings, Tesla said Wednesday that its “digital assets” totaled $1.26 billion at the end of the quarter.
That’s down from $1.31 billion in the previous quarter, or $51 million -- the amount it reported as a “Bitcoin-related impairment.”
Bitcoin rallied to a record level earlier Wednesday, topping $66,000 for the first time as optimism surged about greater mainstream acceptance for the digital currency.
Recent tweets by Tesla Chief Executive Officer Elon Musk have raised questions about the company’s long-term commitment to Bitcoin. He has tweeted favorably about Doge coin as an alternative and posted photos of his new dog Floki, which like the fictional Doge coin mascot is a Shiba Inu.
Musk tweeted in May that the company hasn’t been selling off its reserves of Bitcoin after signaling that he was having second thoughts about the cryptocurrency, citing the use of fossil fuels in Bitcoin mining and transactions. Tesla had said it would accept Bitcoin as a form of payment in the continental U.S., but Musk reversed that decision after a few weeks.
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