Elon Musk Hints Tesla Owns About 42K Bitcoins – Featured Bitcoin News

Bitcoin.com

Tesla CEO Elon Musk has hinted how many bitcoins Tesla owns after revealing that the fair market value of its bitcoin holdings was $1.47 billion as of June 30.

Tesla Holding About 42K Bitcoins

Tesla’s technoking, Elon Musk, has commented on how many bitcoins his electric car company owns in response to a rough calculation provided on Twitter by Tesla shareholder Dave Lee.

How To Get Free Crypto  

In his calculation, Lee used $1.47 billion as the fair market value of Tesla’s entire bitcoin holdings as shown in the company’s Form 10-Q filed with the U.S. Securities and Exchange Commission (SEC). Tesla wrote:

As of June 30, 2021, the carrying value of our digital assets held was $1.31 billion, which reflects cumulative impairments of $50 million. The fair market value of such digital assets held as of June 30, 2021 was $1.47 billion.

Lee also used the price of bitcoin at close on June 30, which was about $35,040. On that day, the high of the BTC price was $35,189.75 and the low was 34,155.90 based on data from Bitcoin.com Markets.

His estimate suggests that Tesla is holding 42,069 BTC. Musk subsequently replied: “We don’t have that many bitcoin, but it’s close.”

Tesla bought bitcoin worth $1.5 billion in the first quarter. The company also began accepting the cryptocurrency as a means of payment in March but stopped in May citing environmental concerns. However, Musk said at a recent bitcoin event, “The B Word,” that Tesla will likely resume accepting bitcoin.

Coinbase Banner  

At the end of the second quarter, the company reported its bitcoin holdings worth $1.311 billion after impairments. In April, the electric car company’s bitcoin stash was worth $2.5 billion.

Not only does Tesla own bitcoin, but Musk also revealed during the B Word event that he personally owns BTC, as does his other company, Spacex. Musk also owns ether and dogecoin.

According to a list of bitcoin treasuries, the only public company that owns more bitcoin than Tesla is Microstrategy. Led by the pro-bitcoin Michael Saylor, Microstrategy has made accumulating BTC one of its primary objectives. The company currently hodls approximately 105,085 bitcoins.

How many bitcoins do you think Elon Musk, Tesla, and Spacex own? Let us know in the comments section below.

FreeBitcoin Banner  
Tags in this story

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Read disclaimer

Go to Source
Author: Kevin Helms


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.