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

Elon Musk’s electric car company Tesla sold no bitcoin in the fourth quarter, according to the company’s latest financial statements. Tesla holds bitcoins worth $1.26 billion. The company still hasn’t resumed accepting bitcoin payments, but is now accepting the same cryptocurrency dogecoin (DOGE) for certain merchandise.

Tesla didn’t sell Bitcoin in the fourth quarter

Tesla released its fourth quarter and fiscal year 2021 financial statements on Wednesday. The company’s unaudited balance sheet shows net digital assets of $1.26 billion at the end of December last year. This amount is unchanged from the third quarter.

Latest Tesla Financial Statement Shows Bitcoin Worth $1.26 Billion
Tesla’s unaudited balance sheet showing digital assets. Source: Tesla

Tesla’s unaudited cash flow statement also shows that there have been no purchases or sales of digital assets in the past three quarters. Tesla’s only cryptocurrency purchase was bitcoin in the first quarter for $1.5 billion. The only sale the company made was also in the first quarter.

Latest Tesla Financial Statement Shows Bitcoin Worth $1.26 Billion
Tesla’s unaudited cash flow statement showing when the company bought and sold BTC. Source: Tesla

While Tesla has never revealed how much bitcoin it owns, Musk previously hinted that it was close to 42K BTC.

The electric car company started accepting bitcoin for payments in March 2021. However, the company stopped accepting crypto in May, citing environmental concerns.

Musk then said that Tesla would resume accepting BTC when bitcoin miners can confirm the use of clean energy. “When there is confirmation of reasonable (~50%) clean energy usage by miners with a positive future trend, Tesla will resume allowing Bitcoin transactions,” he said. However, Tesla still hasn’t started accepting bitcoin again.

Meanwhile, Tesla now accepts the meme cryptocurrency dogecoin (DOGE) for certain merchandise. Musk, also known in the crypto community as Dogefather, is a long-time supporter of dogecoin. He recently tried to tempt McDonald’s into accepting DOGE by offering to eat a happy meal on TV if the fast food chain accepts the same coin. However, McDonald’s replied to Musk that it would only accept DOGE if Tesla accepts “grimacecoin”.

What do you think about Tesla holding bitcoins but accepting dogecoins for payments? Let us know in the comments section below.

Kevin Helms

An economics student from Austria, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests include Bitcoin security, open source systems, network effects, and the intersection between economics and cryptography.

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Marianne R. Winn