Tesla’s Latest Financial Statement Shows Bitcoin Worth $1.26 Billion – Finance Bitcoin News

Home » Tesla’s Latest Financial Statement Shows Bitcoin Worth $1.26 Billion – Finance Bitcoin News


Elon Musk’s electrical automotive firm, Tesla, didn’t promote any bitcoin within the fourth quarter, in response to the corporate’s newest monetary assertion. Tesla is holding bitcoin value $1.26 billion. The corporate nonetheless has not resumed accepting bitcoin funds however now accepts the meme cryptocurrency dogecoin (DOGE) for some merchandise.

Tesla Did Not Promote Bitcoin in This fall

Tesla launched its This fall and FY2021 monetary statements Wednesday. The corporate’s unaudited steadiness sheet reveals web digital property of $1.26 billion on the finish of December final 12 months. This quantity is unchanged from the third quarter.

Tesla's Latest Financial Statement Shows Bitcoin Worth $1.26 Billion
Tesla’s unaudited steadiness sheet displaying digital property. Supply: Tesla

Tesla’s unaudited assertion of money flows additionally reveals that there was no buy or sale of digital property within the final three quarters. The one cryptocurrency buy Tesla made was bitcoin within the first quarter within the quantity of $1.5 billion. The only sale the corporate made was additionally within the first quarter.

Tesla's Latest Financial Statement Shows Bitcoin Worth $1.26 Billion
Tesla’s unaudited assertion of money flows displaying when the corporate purchased and offered BTC. Supply: Tesla

Whereas Tesla by no means disclosed how a lot bitcoin it owns, Musk beforehand hinted that it’s close to 42K BTC.

The electrical automotive firm began accepting bitcoin for funds in March 2021. Nonetheless, the corporate halted accepting the crypto in Could citing environmental issues.

Musk subsequently stated that Tesla will resume accepting BTC when bitcoin miners can affirm clear power utilization. “When there’s affirmation of cheap (~50%) clear power utilization by miners with optimistic future development, Tesla will resume permitting Bitcoin transactions,” he said. Nonetheless, Tesla nonetheless has not resumed accepting bitcoin.

In the meantime, Tesla is now accepting the meme cryptocurrency dogecoin (DOGE) for some merchandise. Musk, additionally recognized within the crypto neighborhood because the Dogefather, has been a longtime supporter of dogecoin. He not too long ago tried to tempt McDonald’s to simply accept DOGE by providing to eat a cheerful meal on tv if the fast-food chain accepts the meme coin. Nonetheless, McDonald’s replied to Musk that it’s going to solely settle for DOGE if Tesla accepts “grimacecoin.”

What do you concentrate on Tesla holding bitcoin however accepting dogecoin for funds? Tell us within the feedback part beneath.

Kevin Helms

A scholar of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source programs, community results and the intersection between economics and cryptography.




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