Tesla Holding About 42K Bitcoins- Big institutions should invest more in Bitcoins.

-

 Elon Musk Says they almost have 40K Bitcoins.

Tesla Holding About 42K Bitcoins

Tesla’s technoking, Elon Musk, has commented on how many bitcoins his electric car company owns in response to a rough calculation provided on Twitter by Tesla shareholder Dave Lee.

In his calculation, Lee used $1.47 billion as the fair market value of Tesla’s entire bitcoin holdings as shown in the company’s Form 10-Q filed with the U.S. Securities and Exchange Commission (SEC). Tesla wrote:

As of June 30, 2021, the carrying value of our digital assets held was $1.31 billion, which reflects cumulative impairments of $50 million. The fair market value of such digital assets held as of June 30, 2021 was $1.47 billion.

Lee also used the price of bitcoin at close on June 30, which was about $35,040. On that day, the high of the BTC price was $35,189.75 and the low was 34,155.90 based on data from Bitcoin.com Markets.

His estimate suggests that Tesla is holding 42,069 BTC. Musk subsequently replied: “We don’t have that many bitcoin, but it’s close.”

Source- Bitcoin.com(best crypto news website)

Comments

Post a Comment

Popular posts from this blog

How Is Cryptocurrency Taxed?

-
Image
  How Is Cryptocurrency Taxed? In many countries, cryptocurrencies are subject to tax. Trading, spending or selling your crypto are often taxable events. To calculate your taxes, you will need to consider your capital gains and losses. You may also have to pay income taxes if you receive crypto as payment. Every jurisdiction is different, so make sure you consult a tax advisor. Tax authorities frequently cooperate with crypto exchanges to track crypto transactions. If you attempt to evade tax, you can end up with financial penalties and even harsher punishments. Introduction If you  HODL  or trade, at some point, you'll probably have to pay crypto taxes. The exact amount varies between countries, but it's common for tax authorities to treat crypto assets as capital assets. It's a legal obligation to pay your required taxes, so getting it right matters. In this article, we'll cover some basic principles that apply to crypto taxation in general. Because the regu
Read more

What Are Hardware Wallets?

-
What Are Hardware Wallets? A hardware wallet is  a type of cryptocurrency wallet where you can store your private keys in a secure physical device . The cryptocurrencies stored in the wallet are kept offline, meaning that they can't be hacked. How Do Hardware Wallets Work? Hardware wallets can support more than one cryptocurrency. They allow users to set 4 to 8 digits pins, which serve as passwords deterring unauthorized access. In most cases, wallet providers avail another layer of identity verification security framework – 2FA authentication – that further assures users that it is almost impossible to hack these devices. The only security threat that is associated with hardware wallets is physical theft. Even at that, stealing a hardware wallet is of no use, since the owner can simply recover the contents of the wallet in a straightforward process. Another important fact about hardware wallets is that you can create a decoy wallet, which is a safety measure useful in situations w
Read more
-
Image
MegaShibaZilla is a meme-token with 12k Holders . Best token to load trillions of tokens at cheap. High potential to earn a million in the long run. Token is anti-rug proof and i have personally bought and tested. Less than a month old coin This token has the best community on telegram,  Weekly burn on 3% of the tokens transactions. 30% tokens will be burned https://coinmarketcap.com/currencies/megashibazilla/ https://www.megashibazilla.com/
Read more