Tesla is expected to report a significant loss on its Bitcoin investment in the second quarter.

According to Barclays analyst Brian Johnson, Tesla's bitcoin investment will decrease by $460 million in Q2.

According to the expert, Bitcoin ended the second quarter at around $19,000, well below the $32,000 to $33,000 level at which Tesla entered early 2021.

Tesla, owned by Elon Musk, had approximately 42,902 bitcoins on its balance sheet.

Tesla is expected to outperform Wall Street expectations on Wednesday, with quarterly earnings (EPS) coming in slightly higher than analyst consensus.

Bitcoin's price reached nearly $70,000 at the end of last year.

Tesla CEO Elon Musk announced last year that the company would accept bitcoin as a payment method, but later reversed its decision citing environmental concerns.

Tesla still accepts Dogecoin as payment for its products.