Tesla holds nearly $2 billion worth of bitcoin at the end of 2021
In report Tesla, the world’s largest maker of electric cars, reported annually to the US Securities and Exchange Commission (SEC) on Feb. 7 that it held $0.99 billion worth of bitcoin at the end of 2021.
Tesla invested a whopping $1.5 billion in the largest cryptocurrency in the first quarter of 2021.
Last March, Tesla made $128 million by selling a small portion of its Bitcoin holdings to demonstrate that the coin had ample liquidity.
In December, the company recorded a $101 loss due to the significant price volatility of the cryptocurrency.
After announcing a massive purchase of Bitcoin a year ago, Tesla faced backlash from environmental activists. Many pointed out that this would not bode well for the company’s zero-emissions efforts, and accused Musk of hypocrisy.
Tesla began accepting bitcoin payments for cars and accessories in late March. After being hailed by bitcoin enthusiasts, Musk became their sworn nemesis overnight when he announced that Tesla was discontinuing support for payments due to carbon emissions discontinued bitcoin. The company is leaving open the possibility of bitcoin payments resuming as most bitcoin mining is powered by renewable energy.
In January, Tesla accepted payment in Dogecoin — a memecoin Musk regularly releases — for some goods.
Join CoinCu Telegram to keep track of news:Â https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Author
Market
Tesla holds nearly $2 billion worth of bitcoin at the end of 2021
In report Tesla, the world’s largest maker of electric cars, reported annually to the US Securities and Exchange Commission (SEC) on Feb. 7 that it held $0.99 billion worth of bitcoin at the end of 2021.
Tesla invested a whopping $1.5 billion in the largest cryptocurrency in the first quarter of 2021.
Last March, Tesla made $128 million by selling a small portion of its Bitcoin holdings to demonstrate that the coin had ample liquidity.
In December, the company recorded a $101 loss due to the significant price volatility of the cryptocurrency.
After announcing a massive purchase of Bitcoin a year ago, Tesla faced backlash from environmental activists. Many pointed out that this would not bode well for the company’s zero-emissions efforts, and accused Musk of hypocrisy.
Tesla began accepting bitcoin payments for cars and accessories in late March. After being hailed by bitcoin enthusiasts, Musk became their sworn nemesis overnight when he announced that Tesla was discontinuing support for payments due to carbon emissions discontinued bitcoin. The company is leaving open the possibility of bitcoin payments resuming as most bitcoin mining is powered by renewable energy.
In January, Tesla accepted payment in Dogecoin — a memecoin Musk regularly releases — for some goods.
Join CoinCu Telegram to keep track of news:Â https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Other Posts
Related Posts
Latest
Bitcoin Trader Turned $100M in His 20s—Now Reveals 5 Altcoins to Build a $50M Portfolio, With Memecoins Leading the Way!
Dogecoin and Shiba Inu Approach $1, but All Eyes Are on XYZVerse’s Push to $10!
Press Release
The Best Crypto for Passive Income? 10% Weekly Gains and 20% Final Surge—Qubetics Mirrors Cosmos’ Early Success!
Zircuit Launches ZRC Token: Pioneering the Next Era of Decentralized Finance
