Elon Musk hinted that Tesla now owns around 42,000 BTC

Tesla boss Elon Musk appears to implicitly reveal how a lot BTC Tesla owns.

Elon Musk broadcasts that Tesla holds around 42,000 BTC

According to a tough calculation by Tesla shareholder Dave Lee on Twitter, Musk has implicitly revealed how a lot BTC his electrical automobile firm owns. In his calculation, Lee used $ 1.47 billion because the truthful market worth of all of Tesla’s BTC holdings, as proven on Form 10-Q filed with the Securities and Exchange Commission (SEC).

Tesla stated, “As of June 30, 2021, the acknowledged worth of the variety of digital property we maintain is $ 1.31 billion, representing a cumulative depreciation of $ 50 million. The truthful market worth of those digital property, held as of June 30, 2021, is $ 1.47 billion. “

Additionally, Lee additionally makes use of Bitcoin price on this calculation, which closed at around $ 35,040 on June thirtieth. On that day, the BTC price excessive was $ 35,189.75 and the low was 34,155.90. Lee’s estimate reveals Tesla holds 42,069 BTC.

A easy calculation by Dave Lee concludes that Tesla holds 42,069 BTC and Musk implies that that is an approximate quantity too | The supply: Dave Lee / Twitter

At this conclusion, Musk replied, “We don’t have that many bitcoins, but the numbers are close.”

Like Bitcoin journal reported that Tesla spent $ 1.5 billion shopping for BTC within the first quarter of 2021. The firm additionally began accepting cryptocurrencies as cost in March, however stopped doing so in May as a result of environmental considerations. However, throughout a latest Bitcoin occasion, “The B Word,” he revealed that Tesla will probably proceed to simply accept BTC within the close to future. Not solely does Tesla personal BTC, Musk additionally introduced that he personally owns BTC, as does his different firm, Spacex. In addition, Musk additionally owns ETH and his favourite meme coin DOGE.

Right now, Microstrategy is the one publicly traded firm that owns extra Bitcoin than Tesla. Michael Saylor, CEO of Microstrategy, has made the buildup of BTC one in every of his predominant targets. The firm at present owns around 105,085 BTC.

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