HODLing: Tesla’s Billion-Dollar Bitcoin Stash Is Still Intact Despite Downside Volatility

HODLing: Tesla’s Billion-Dollar Bitcoin Stash Is Still Intact Despite Downside Volatility
фото показано с : zycrypto.com

2022-1-29 00:36

Tesla’s Q4 Fiscal Year 2021 report is out and as it appears, the U.S. electric vehicle manufacturer is still holding its Bitcoins.

According to the report, the company has not made any major alterations to its Bitcoin holdings, with the stash remaining untouched for a least three quarters. As per the recent report, the company was holding $1.26 Billion worth of Bitcoin as of December 31, 2021, which is a 16% descent from its initial investment. This has largely been due to the overall market drawdown facing the crypto market.

The report also shows that the company sold 10% ($272 million) of its holdings in June 2021 “to confirm BTC could be liquidated easily without moving market” as Elon Musk had then put it.

Given that Tesla only pointed at having bought the cryptocurrency on diverse dates within months before the announcement, it has been hard to ascertain how many bitcoins the company exactly holds. Elon musk has however hinted at the company holding close to 42k coins. 

It shall be recalled that the company announced in February last year that it had purchased $1.5 Billion worth of bitcoin as per a FORM 10-K filed with the Securities and Exchange Commission. The move had been taken to provide the company “with more flexibility to further diversify and maximize its returns on cash that is not required to maintain adequate operating liquidity.”

The e-car manufacturer had further disclosed that it would start accepting Bitcoin as a form of payment for its products in the future, plans that would later screech to a halt in May after Elon Musk attacked Bitcoin, citing environmental concerns. 

Since then, albeit promising on plans to resume accepting the cryptocurrency when there’s confirmation of reasonable (~50%) clean energy usage by miners, Elon Musk has continued to look the other way, often vouching for Dogecoin and other meme-coins.

Mid this month, Tesla started accepting Dogecoin payments for a variety of merchandise with Elon earlier on hinting at building a new university; Texas institute of technology and science, whose tuition fees would be payable in Dogecoin.

Despite Elon’s “emission” problems with Bitcoin, Wednesday’s report is, however, a clear indicator as to where he stands. To investors, this is a great pointer that the Tesla boss has high hopes in the cryptocurrency’s value, which is a bullish signal. At the time of writing, Bitcoin is trading at $37,714 with Tesla’s stock retailing for $846, up 2.07% on the day.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

TeslaCoilCoin (TESLA) на Currencies.ru

$ 0.0009294 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0.0009294 - H: $0.0009294
Капитализация $0 Rank 99999
Доступно / Всего 0 TESLA

report still company bitcoin stash tesla holdings

Источник: zycrypto.com

report still → Результатов: 126


Фото:

Bitcoin And Ethereum Solid Bases Set Them Up For $100,000 And $5,000 Targets Before Year-End — Bloomberg Analysis

Bitcoin and Ethereum’s date with the $100,000 and $5,000 price levels respectively is still well on the course according to Bloomberg’s Mike McGlone. According to a recent report by the senior commodity strategist at the media powerhouse, Bitcoin and Ethereum are poised to rally later in the year despite the year starting on a slightly […]

2022-1-9 22:06


Фото:

New Investigation Reveals SEC vs. Ripple Case Has More To It Than Just XRP

Fox Business released their investigative report on the Ripple vs SEC lawsuit. The report which details the entire case so far finds the SEC’s move against Ripple to still be dubious.  As promised by the leading news channel, Fox Business, the media outlet has now released its investigative report on the lawsuit between the U.S. Securities […]

2021-11-26 23:16


Фото:

Crypto Adoption Rapidly Expanding At Grassroots Level In Africa, Chainalysis Explains Why

The cryptocurrency market in Africa grew by 1200% between June 2020 and July 2021, according to a new 2021 Geography of Cryptocurrency report by blockchain data services provider firm Chainalysis. Chainalysis stated that as the third-fastest growing cryptocurrency market in the world, the African market is still relatively small but the most exciting and dynamic.   […]

2021-9-17 14:28


Фото:

John McAfee’s Widow Is Still Extremely Skeptical of Her Husband’s Alleged Suicide

Following a report from John McAfee’s biographer, the former antivirus tycoon’s widow Janice McAfee has taken to social media to disclose a number of findings. During the first week of July, McAfee published a note that said there was “no sense of urgency” toward the investigation into John’s death by Spanish authorities. A week later, […]

2021-7-23 21:00


India To Criminalize Private Crypto Ownership Despite Community Outcry

According to a senior government official familiar with the situation, the Indian government is working on legislation that will see private ownership of cryptocurrencies criminalized. India’s Crypto Ban Is Still On Course In a Reuters report published on Monday, an unnamed government official said the legislation banning cryptocurrencies in the country is in its final […] The post India To Criminalize Private Crypto Ownership Despite Community Outcry first appeared on BitcoinExchangeGuide.

2021-3-15 19:40


Фото:

Digital Yuan Still in Trial: China Airdrops Another $3 Million Worth of Its DCEP to 10,000 Suzhuo Residents

China’s digital Yuan has been facing a series of trials since its launch. The country has been making several attempts to gain a foothold for its digital currency. Still, in the test phase, China has just airdropped another $3 Million worth of its DCEP to some Suzhuo residents, according to a new report. This appears […]

2020-12-17 18:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Decline Continues: Are Bulls Losing Control?

Bitcoin price extended losses and traded below the $100,000 zone. BTC is struggling and might continue to move down toward the $92,000 support zone. Bitcoin started a fresh decline from the $102,000 resistance zone.

Bitcoin Price Struggles at $100K: Is The Rally Losing Steam?

Bitcoin price struggled to clear the $102,000 resistance zone. BTC is correcting gains and might test the $97,500 support zone. Bitcoin started a downside correction from the $102,000 zone. The price is trading above $98,000 and the 100 hourly Simple moving average.

Bitcoin Price Dips Again: Is The Momentum Shifting?

Bitcoin price started another decline and traded below the $98,000 support. BTC dipped toward the $95,000 level and is currently correcting losses. Bitcoin started a fresh decline below the $98,000 support zone.