Elon Musk’s Tesla Up Over $1 Billion On Bitcoin Investment

2021-10-14 17:11

Elon Musk’s Tesla is now over $1 billion in the green on its Bitcoin investment as the price nears $58,000 for the first time since early May.

Elon Musk’s Tesla is now over $1 billion in the green on its Bitcoin investment as the price nears $58,000 for the first time since early May.

Currently Tesla holds about 43,200 BTC, worth nearly $2.5 billion at the time of writing. The company bought roughly $1.5 billion worth of Bitcoin back in February when it first added Bitcoin to its balance sheet.

In Q2, Tesla sold 10% of its Bitcoin holdings at an average price of around $50,000 per token. CEO Elon Musk later took to Twitter to clarify that Tesla sold 10% of its BTC holdings to prove the asset’s liquidity and viability as an alternative to cash on its balance sheet.

In its Q2 earnings report, Tesla announced that it booked gains worth $128 million from its Bitcoin sale.

The car manufacturer has gained approximately 65% or $1 billion since its initial Bitcoin investment. This is as much as its income from selling 201,250 cars in Q2. Currently companies that aren’t investment companies, such as Tesla, report Bitcoin as intangible assets. This means Bitcoin gets recorded on balance sheets at its historic cost and is then impaired if the value dips. Although the value can never be revised upward if the price of Bitcoin increases.

Michael Saylor’s MicroStrategy recently wrote to the Financial Accounting Standards Board, “This disconnect between an entity’s financial statements and the economic reality of its financial condition and results of operations creates confusion and fails to provide investors, analysts, and the general public with the information they need to make an informed assessment of an entity’s current and future prospects.”

The question is not if but when other large companies will follow suit with MicroStrategy, Tesla, and Square, and add Bitcoin to the balance sheet. 

Similar to Notcoin - Blum - Airdrops In 2024

origin »

TeslaCoilCoin (TESLA) íà Currencies.ru

$ 0.0009294 (+0.00%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 0.00 %, 7d: 0.00 %
Cåãîäíÿ L: $0.0009294 - H: $0.0009294
Êàïèòàëèçàöèÿ $0 Rank 99999
Äîñòóïíî / Âñåãî 0 TESLA

bitcoin elon musk investment billion tesla time

Èñòî÷íèê: bitcoinmagazine.com

bitcoin elon → Ðåçóëüòàòîâ: 126


Ôîòî:

Elon Musk Reveals Spacex Owns Bitcoin, He Personally Owns BTC, Ethereum, Dogecoin — ‘I Might Pump but I Don’t Dump’

Spacex and Tesla CEO Elon Musk has revealed that he personally owns bitcoin, ethereum, and dogecoin. Meanwhile, his companies, Spacex and Tesla, own bitcoin. He also said that bitcoin’s energy usage “is shifting a lot more toward renewables,” and Tesla will likely resume accepting the cryptocurrency after he does more due diligence.

2021-7-23 16:30


Ôîòî:

Cryptocurrency Has Absolutely Tanked Since Elon Musk’s Bitcoin Announcement

Just a week ago, on May 12, Bitcoin was soaring to incredible heights. Each token was selling for as much as $57,000, up from just $30,000 at the start of the year. Then came a wrecking ball in the form of Elon Musk, whose electric car company Tesla had lent Bitcoin unprecedented mainstream credibility earlier […] The post Cryptocurrency Has Absolutely Tanked Since Elon Musk’s Bitcoin Announcement appeared first on Futurism.

2021-6-8 19:54


Ôîòî:

Elon Musk Adds “Bitcoin” to Twitter Bio as BTC Posts Monster-Sized Breakout

Elon Musk has long teased his interest in Bitcoin, but his advocacy for the cryptocurrency was solidified today when he added #Bitcoin to his Twitter bio This change coincided with a massive green candle seen by BTC that sent it rocketing up to highs of nearly $39,000 this morning It remains unclear as to whether or not Elon purchased Bitcoin, but it has been speculated that he is the sole reason for the massive pump […]

2021-1-30 21:00


Ôîòî:

‘OMG Hacked!’ Twitter Blocks Elon Musk After Bitcoin Tweet

Elon Musk suffered a temporary ban of his Twitter account after advising people to buy Bitcoin, he revealed October 22. Musk: Twitter ‘Thought I Got Hacked’ In a move which focused attention on the social media platform’s controversial cryptocurrency policy, Twitter cut off access to Musk’s account after he sent a tweet as part of a debate on a separate topic.

2018-10-23 13:00


You can now buy Elon Musk’s ‘Not A Flamethrower’ with Bitcoin

There’s something fitting about an Elon Musk business accepting Bitcoin, because, you know, they’re about as stable as each other. I’m here all week. That’s right, you can now buy the Boring Company’s Not A Flamethrower (from here on out, referred to as just a flamethrower) with not only Bitcoin, but a range of other cryptocurrencies.

2018-10-18 16:40


New Zealand PM Used As Pawn In Fake News Site

Jacinda Arden, Prime Minister of New Zealand has had her face used by a fake news site in order to promote articles aimed at Facebook to encourage a crypto startup. A local media source, ‘Stuff’ reported on Friday that multiple sponsored posts have recently been promoted on Facebook by using the likeness of the New Zealand PM with headlines such as New Investment Plan For Kiwis which were targeted at several different age groups around the country.

2018-10-12 16:30


äàëüøå åùå 77 íîâîñòåé →

Ïàðòíåðû Currencies.ru

Àíàëîã Notcoin - Blum - Èãðàé è çàðàáàòûâàé Ìîíåòû



Ðåêëàìà íà Currencies.ru

Ñàìîå ñâåæåå íà Currencies.ru

Arkham: Tesla still owns $780m in Bitcoin following wallet movement

Tesla has split the 11,509 Bitcoin across seven wallets Arkham Intelligence said some have speculated that the move was to a crypto custodian Tesla remains the third largest publicly traded Bitcoin company being MicroStrategy and Marathon Digital Holdings Tesla still owns 11,509 Bitcoin despite the wallet movement last week, according to a blockchain analytics company.