• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Breaking News: Breaking: DCG And Genesis Close Initial Agreement With Creditors
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Bitcoinist.com
No Result
View All Result
Breaking News: Breaking: DCG And Genesis Close Initial Agreement With Creditors
Bitcoin Elon Musk Tesla
Advertisement

Elon Musk Hints Tesla Might Hold Close To 42k Bitcoin

Hououin Kyouma by Hououin Kyouma
2 years ago
in Bitcoin
0
Advertisement

Elon Musk, Tesla’s CEO, has hinted in a reply on a Twitter post that the company might own close to 42k Bitcoin.

Elon Musk Hints Tesla Owns Around 42k Bitcoin

Tesla shareholder Dave Lee has run a rough calculation on Twitter to show how many BTC the company owns. In his estimation, Lee has used the fact that Tesla holds around $1.47 billion in Bitcoin as of 30 June, as revealed on the latest earnings call.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!

The electric car company has filed a form 10-Q with the US securities and exchange commission. The firm says:

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.

In a reply to the tweet, Elon Musk has revealed that while Tesla doesn’t own exactly as much BTC as the estimate may show, it’s still close.

Related Reading | What Did Musk, Dorsey, And Wood Say About ESG, Green Energy, And Bitcoin Mining?

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

To make the calculation, Lee used the same price of BTC as it was on 30 June close, which was around $35k. According to his estimate, Tesla could own 42,069 BTC.

42,069 Bitcoins x $35,040 ($BTC close price on 6/30) = $1.474B… or rounded to $1.47B as disclosed in their 10-Q

To this estimate, Musk replies “We don’t have that many bitcoin, but it’s close.”

Earlier in the year, Tesla started accepting BTC as a payment method. However, just a couple of months later the company rolled back on the policy, citing environmental concerns.

During the “B World” event earlier in the month, Musk revealed that he himself holds Bitcoin as well. And not only Tesla, but his other company, SpaceX, also owns the crypto.

Other cryptocurrencies in Musk’s portfolio include Ethereum and Dogecoin, according to him in the same event.

BTC Price

At the time of writing, Bitcoin’s price floats just under $40k, up 23% in the last 7 days. The crypto has accumulated 9% gains in the last month.

Here is a chart the shows the trends in the value of the cryptocurrency over the past one year:

Bitcoin Price Chart

BTC picks up a sharp uptrend over the past few days | Source: BTCUSD on TradingView

At long last, Bitcoin seems to have caught some substantial price movement. Earlier, the coin was stuck in a range bound market with little volatility.

As Bitcoin continues to move upwards, the crypto witnesses the 9th consecutive day with gains. These many successive positive days haven’t been seen since 2015.

Related Reading | Crypto Market Breathes Sigh Of Relief, Bitcoin Rises From “Extreme Fear”

If BTC can keep the momentum up, it’s likely it will break the $40k mark soon. However, if it fails to clear this resistance level, it might fall back down to a range bound market.

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Hououin Kyouma

Hououin Kyouma

Loves to write, enthusiastic about cryptocurrency. Currently studying Physics at university.

Related Posts

Bitcoin BTC BTCUSDT

Will Bitcoin See A Valentine’s Day Massacre Or Can Bulls Get Back To $24,000?

14 mins ago
Bitcoin

Bitcoin Long-Term Holders Are Still Selling At Loss: Glassnode

6 hours ago
Bitcoin BTC

Will Bitcoin And Ethereum Crash? DCG Sells Grayscale Trust Shares

8 hours ago
Bitcoin

Top Crypto Miner At Record Bitcoin Production, Bear Market Over?

20 hours ago
Bitcoin price

This Will Be Important For Bitcoin And Crypto This Week

1 day ago
New record: 49% of Bitcoin Supply Has Not Changed Hands in 2 Years

New Record: Half Of Bitcoin Supply Hasn’t Changed Hands In 2 Years

2 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • ALTCOIN DAILY TO PRODUCE AND STAR IN NEW “SHARK TANK OF...

    5 hours ago
  • SinVerse Studios Announces $1 Million Buyback Program for...

    5 hours ago
  • Join the Revolution: Invest in STARSTAKING for 25% APY and...

    5 hours ago
  • The Crypto Bull Market Trend Has Started! What Does This...

    6 hours ago
  • Orbeon Protocol (ORBN) Grows 1625% During the Presale...

    6 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.