Elon Musk Says Tesla Owns Close to 42,000 Bitcoin Worth $1.60 Billion

    The Chief executive of Tesla, Elon Musk, has opened up the total Bitcoin holdings of the electric car company. Musk said on Twitter that the technology giant owns about 42,000 Bitcoin, worth more than $1.60 billion during writing, according to CoinGecko.

    Musk personally possesses Bitcoin, and his additional famous company, known as an aerospace firm, SpaceX, holds BTC on the reliability sheet as well. Tesla has actually endured about $23 million impairment loss related to the Bitcoin holdings, and it has been highlighted by the Financial update of the Company’s Q2 2021. The document also indicates that Tesla has spent around a total of $1.5 billion on digital asset purchases and has earned about $272 million in proceeds from the crypto sales.

    The public opinion for Musk also differs on Bitcoin was extensively thought to have donated to some of the digital assets’ cost swings in 2021.

    The outspoken CEO also said that Tesla is going to start to accept the payment for Bitcoin again once the mining process becomes environmentally friendly. He said that a verifiable shift away from the coals and towards renewable energy could be underway.

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