Connect with us

Hi, what are you looking for?


Tesla holds 1.26 billion worth of bitcoins

Elon Musk recently offered a hostile takeover of Twitter for $46 billion, which was 36% above its current market price.

In its latest earnings report, the electric car maker revealed that it still holds a staggering amount of crypto. Despite inflation pressure, the company has reported its highest ever earnings, beating all Wall Street estimates. 

As per the company’s cash flow statement, it purchased $1.5 billion worth of BTC in the first quarter of 2021. Since then all the following quarters show no additional purchases of crypto, especially Bitcoin. The company sold a portion of its Bitcoin holdings the same quarter it bought them. 

Since January, Tesla has been accepting the popular meme coin – Dogecoin for specific merchandise. The company is yet to bring back Bitcoin payments for Tesla cars.

I’ve never been more optimistic and excited in terms of the future than I am right now.

A year ago Tesla reported a revenue of $10.39 billion, which now stands at $18.76 billion— an eighty one percent rise. Its earnings have jumped from $438 million in the previous year to $3.32 billion. A 658% rise in earnings.

As per Musk, Bitcoin is a store of value and Doge coin is preferable for transactions. He has previously went on record and said that he would not sell his holding of Bitcoin (BTC) , Ethereum (ETH), and Dogecoin (DOGE).



US-based Wells Fargo publicly announced its spot Bitcoin ETF investments in a statement to the US Securities and Exchange Commission (SEC). On the other...

Bitcoin Mining

The mining industry for Bitcoins incurred a sizeable debt load during the bull market of 2021, which hurt their financial health during the subsequent...


Ripple is attempting an upside break above the $0.365 resistance zone against the US Dollar. XRP price could fail to gain pace if it...


Bitcoin price is facing resistance near $17,000. BTC could start another decline unless there is a strong move above the $17,000 resistance zone. Bitcoin...