Tesla’s Latest Financial Statement Shows Bitcoin Worth $1.26 Billion

Tesla’s Q4 and FY2021 financial reports were released Wednesday. Unaudited financial statements show that the company had $1.26 billion in digital assets at December’s end last year. This amount remains unchanged from the third-quarter.

The unaudited statement by Tesla of cash flows shows that no digital assets were purchased or sold in the past three quarters. In the first quarter, Tesla purchased bitcoin for $1.5 billion. Also, the company’s only sale was in the first quarter.

Musk hinted previously that Tesla has close to 42K BTC.

In March 2021, the electric car company began accepting bitcoin payments. The company stopped accepting crypto payments in May, citing environmental concerns.

Musk stated that Tesla would accept BTC once bitcoin miners can verify clean energy usage. He stated that Tesla would resume accepting Bitcoin transactions once there is confirmation of reasonable (50%) energy use by miners with a positive future trend. Tesla has yet to accept bitcoin.

Tesla is now accepting DOGE, the meme cryptocurrency dogecoin (DOGE), for some merchandise. Musk, who is also known as the Dogefather in crypto circles, has long supported dogecoin. Recently, he attempted to persuade McDonald’s to accept DOGE. He offered to eat a happy dinner on TV if the fast-food restaurant accepted the meme coin. Musk replied that McDonald’s would only accept DOGE if Tesla accepted ‘grimacecoin’.

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