Tesla said they believe in the potential of digital assets
The company published a report announcing its cryptocurrency holdings worth $1,26 billion
03.05.2022 - 10:35
518
2 min
0
What’s new? Tesla has submitted its 2022 first quarter earnings report to the US Securities and Exchange Commission (SEC). It says the company believes “in the long-term potential of digital assets both as an investment and also as a liquid alternative to cash.” According to the document, Tesla has cryptocurrency holdings totaling $1,26 billion.
What else does the report say? The company tested payments using Dogecoin in January 2022 and also added the ability to pay for accessories with the meme cryptocurrency, but there is no revenue line item from DOGE in the quarterly report.
“We may increase or decrease our holdings of digital assets at any time based on the needs of the business and our view of market and environmental conditions,” the document says.
What happened before? In February 2021, Tesla announced a $1,5 billion bitcoin purchase. In March, the company authorized the purchase of electric cars for cryptocurrency, but Tesla sold some of its BTC in the same month.
In May 2021, Tesla CEO Elon Musk suspended buying cars for the first cryptocurrency because of the “increasing use of fossil fuels for bitcoin mining.” However, he later noted that “bitcoin is moving towards renewable energy”. If the percentage of renewable energy is at or above 50%, the company would accept payments in BTC again, Musk said.
Useful material?
Incidents
Scammers took advantage of the former US president’s recent announcement of a real DeFi protocol
Sep 4, 2024
Technologies
The upgrade is aimed at implementing a new decentralized project governance system
Sep 2, 2024
Incidents
The company placed $2б4 billion in bonds maturing in 2026, but their value has fallen dramatically since the entrepreneur’s arrest
Aug 30, 2024
Incidents
In both cases, depending on the outcome of the investigations, the messenger could be blocked
Aug 29, 2024
Market
The project will offer a decentralized alternative to traditional banking services
Aug 29, 2024
Trends
Within a week of its launch, the platform managed to overtake its main competitor, Pump.fun on the Solana network
Aug 28, 2024