Billionaire Elon Musk’s Tesla, retained all it’s bitcoin in the fourth quarter; none was sold, according to the company’s latest financial statement. Tesla is holding bitcoin worth $1.26 billion. The company officially accepts the meme cryptocurrency dogecoin (DOGE) for some merchandise at the moment.
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The company’s unaudited balance sheet shows net digital assets of $1.26 billion at the end of December last year. This amount is unchanged from the third quarter.
Tesla’s unaudited statement of cash flows also shows that there was no purchase or sale of digital assets in the last three quarters. The only cryptocurrency purchase Tesla made was bitcoin in the first quarter in the amount of $1.5 billion. The only sale the company made was also in the first quarter.
Elon Musk particularly tweeted that Tesla will resume accepting BTC when bitcoin miners can confirm clean energy usage. “When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions,” he tweeted in 2021.
In the meantime, Tesla is accepting the meme cryptocurrency dogecoin (DOGE) for some merchandise. Elon Musk has been a longtime supporter of dogecoin. He recently tried to Influence McDonald’s to accept DOGE by offering to eat a happy meal on television if the fast-food chain accepts the meme coin. However, McDonald’s replied to Musk that it will only accept DOGE if Tesla accepts “grimacecoin.”
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Tony Chimdiuto