Tesla CEO Elon Musk has hinted how much bitcoins Tesla owns after announcing that the fair market value of its bitcoin holdings as of June 30th was $ 1.47 billion.
Tesla holds around 42,000 bitcoins
Tesla’s technoking Elon Musk has commented on how many bitcoins his electric car company owns in response to a rough calculation Tesla shareholder Dave Lee posted on Twitter.
In his calculation, Lee used $ 1.47 billion as the fair market value of Tesla’s total Bitcoin holdings, as shown on the company’s Form 10-Q filed with the SEC. Tesla wrote:
As of June 30, 2021, the carrying amount of our digital assets held was $ 1.31 billion, reflecting accumulated impairment losses of $ 50 million. The fair market value of these digital assets, held as of June 30, 2021, was $ 1.47 billion.
Lee also used Bitcoin price at its closing price on June 30, which was around $ 35,040. On this day, the high of the BTC The price was $ 35,189.75 and the low was 34,155.90 based on data from Bitcoin.com markets.
According to his estimate, Tesla holds 42,069 BTC. Musk replied, “We don’t have that many bitcoins, but it’s close.”
Tesla bought $ 1.5 billion worth of Bitcoin in the first quarter. The company also started accepting cryptocurrency as a form of payment in March, but stopped in May because of ejecting environmental concerns. However, Musk said at a recent bitcoin event, The B Word, that Tesla will likely accept bitcoin again.
At the end of the second quarter, the company reported its $ 1.311 billion worth of Bitcoin holdings after impairments. In April, the electric car maker’s bitcoin stash was worth $ 2.5 billion.
Not only does Tesla own Bitcoin, Musk also revealed that he personally owns during the B-Word event BTC, as well as his other company Spacex. Musk also owns Ether and Dogecoin.
According to a list of Bitcoin government bonds, the only publicly traded company that owns more Bitcoin than Tesla, is Microstrategy. Led by the pro-Bitcoin Michael Saylor, Microstrategy made the accumulation BTC one of its main goals. The company currently holds approximately 105,085 bitcoins.
How many bitcoins do you think Elon Musk, Tesla and Spacex own? Let us know in the comment section below.
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