Elon Musk Hints At The Amount of Bitcoin Tesla Owns

Elon Must Bitcoin

In response to a rough calculation by shareholder Dave Lee on Twitter. Tesla’s technoking, Elon Musk commented on how many bitcoins his electric car company owns. In the analyses, $1.47 billion was used as the fair market value of all bitcoin holdings in their SEC filing.

Tesla wrote: “As of June 30, 2021, the carrying value of our digital assets held was $1.31 billion. This 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 his calculations, Lee used the prices of June 30, when the price of bitcoin closed at around $35,040. On that day, the high was about $35,189.75, and the low was 34155 .90 based on data from Bitcoin website markets.

These estimates point to Tesla holding 42,069 Bitcoins. As a result, Musk replied: “We don’t have that many bitcoin, but it’s close.”

In the first quarter, Tesla purchased $1.5 billion worth of bitcoin. And began accepting it as a form of payment but stopped due to environmental concerns. Musk said at a recent event that Tesla would likely start “receiving again.” As he also went on to call cryptocurrencies “brilliant.”

At the end of quarter two, Tesla reported a $1.311 billion bitcoin holding. Following impairment in April when its crypto holdings were worth around $2.5 million.

Elon Musk revealed that not only does Tesla own bitcoin, but he also owns BTC and his other company SpaceX. Additionally, Musk has ether and dogecoin in his possession as well.

The numbers speak for themselves. Microstrategy is the most top firm on bitcoin’s list of treasuries, followed by Tesla. With more than 100,000 bitcoins in its possession and a CEO who vocally supports cryptocurrency. Microstategy has made some significant moves to accumulate BTC over time.