Lens1000
VIP Contributor
According to the business's most recent financial statement, Elon Musk's electric car manufacturer, Tesla, did not sell any bitcoin in the fourth quarter. Tesla has $1.26 billion worth of bitcoin. The company has yet to restart accepting bitcoin payments, but it does now accept the meme cryptocurrency dogecoin (DOGE) for select items.
Tesla presented its financial figures for the fourth quarter and fiscal year 2021 on Wednesday. At the end of last year, the company's unaudited balance sheet showed net digital assets of $1.26 billion.
Tesla's unaudited summary of cash flows also shows that no digital assets were purchased or sold in the previous three quarters. Tesla's only cryptocurrency acquisition was $1.5 billion worth of bitcoin in the first quarter.
Tesla has never stated how many bitcoin it holds, but Musk has previously speculated that it is close to 42,000.
In March 2021, the electric car firm began taking bitcoin payments. However, in May, the corporation stopped taking the cryptocurrency due to environmental concerns.
Musk then stated that Tesla will restart accepting BTC whenever bitcoin miners can demonstrate that they are using clean energy. "Tesla will resume permitting Bitcoin transactions when there is confirmation of reasonable (50 percent) renewable energy utilization by miners with a positive future trend," he stated. Tesla, on the other hand, is yet to resume accepting bitcoin.
Meanwhile, the meme cryptocurrency dogecoin (DOGE) is now accepted by Tesla for some items. Musk, also known as the Dogefather in the crypto community, has been a longtime backer of dogecoin.
Tesla presented its financial figures for the fourth quarter and fiscal year 2021 on Wednesday. At the end of last year, the company's unaudited balance sheet showed net digital assets of $1.26 billion.
Tesla's unaudited summary of cash flows also shows that no digital assets were purchased or sold in the previous three quarters. Tesla's only cryptocurrency acquisition was $1.5 billion worth of bitcoin in the first quarter.
Tesla has never stated how many bitcoin it holds, but Musk has previously speculated that it is close to 42,000.
In March 2021, the electric car firm began taking bitcoin payments. However, in May, the corporation stopped taking the cryptocurrency due to environmental concerns.
Musk then stated that Tesla will restart accepting BTC whenever bitcoin miners can demonstrate that they are using clean energy. "Tesla will resume permitting Bitcoin transactions when there is confirmation of reasonable (50 percent) renewable energy utilization by miners with a positive future trend," he stated. Tesla, on the other hand, is yet to resume accepting bitcoin.
Meanwhile, the meme cryptocurrency dogecoin (DOGE) is now accepted by Tesla for some items. Musk, also known as the Dogefather in the crypto community, has been a longtime backer of dogecoin.
