Elon Musk caused quite a stir when he announced at the “B-Word” conference that his aerospace manufacturing business, SpaceX, owns Bitcoin. Tesla was not the only one who owns bitcoin, but Musk also announced that he owns it personally during the B-Word event. He also revealed that he possesses not only Bitcoin but also Ethereum and Dogecoin, a meme token.
Elon Musk, the CEO of Tesla, has now hinted at how many bitcoins the company has. He made the remark in response to a Twitter report that the electric car producer has roughly $ 1.47 billion in Bitcoin on its books.
Tesla’s Bitcoin holdings were estimated by Twitter user Dave Lee. Elon Musk reportedly spent $1.5 billion from Tesla’s treasury and converted it to Bitcoin in February, according to reports. Because the market value of Bitcoin has moved significantly, Dave chose a $35,040 estimate. He calculated a total of 42,069 Bitcoins at a value of $1.47 billion.
In response to a preliminary calculation published on Twitter by Tesla shareholder Dave Lee, Elon Musk has remarked on how many bitcoins his electric vehicle business has.
Only @elonmusk and $TSLA’s master of coin would do this…
$35,040 ($BTC close price on 6/30)
= $1.474B… or rounded to $1.47B as disclosed in their 10-Q pic.twitter.com/PXJ3wZusrr
Elon Musk: Tesla holds "close" to 43,000 #bitcoin pic.twitter.com/2FwourQJID
Bitcoin, the world’s most popular cryptocurrency, decreased modestly in value, bringing the global cryptocurrency market capitalization to US$1.57 trillion. As Bitcoin (BTC) bulls meet heavy resistance at the $40,000 level, sentiment has begun to weaken. Bitcoin’s price has generally consolidated gains over the $39,000 mark in recent sessions.
BTC has risen beyond the $40,000 mark, but it is still battling to acquire bullish traction. The present market action is still bullish, and the bulls appear to be on track to push the price beyond $40,500 in the near future. BTC is presently trading at $39,868.54 at the time of writing.
Source: Read Full Article