Tesla CEO Elon Musk Bitcoin (BTC) and cryptocurrencies After months of complicated messages about Tesla, it was seen that Tesla took a firm stand in its new SEC statement.
“We Believe in the Long-Term Potential of Digital Assets”
The company’s quarterly report to the SEC left the door open for more digital asset investments. The company used the following statements in its statement:
“We believe in the long-term potential of digital assets, both as an investment and as a liquid alternative to cash.”
In the report prepared by Tesla for the first quarter of the year, it was noted that as of the end of last month, it had 1.26 billion dollars in digital assets.
Thus, there was no change in the company’s digital asset investments compared to the last quarter of 2021. The report also stated that the fair market value of digital assets owned by the company as of March 31, 2022 is $1.96 billion.
Announcing that Tesla would accept BTC for automobile sales about a month after the Bitcoin purchase, Musk stepped back a few months after this step due to environmental concerns.
In July 2021, Musk announced that if BTC mining becomes more sustainable, adding BTC as a repayment method may be considered.
In the statement made by the company to the SEC in October, the door was left open for crypto money payments.
Door Opened for Additional Bitcoin Investment
In addition, Dogecoin, Musk’s favorite cryptocurrency, was also accepted by Tesla for some items in its online store. However, the company did not give the SEC any information about DOGE revenues.
The quarterly report sent to the SEC included the following statements:
“As with all investments, and consistent with our management of fiat-based cash and cash equivalents, we can increase or decrease our digital assets taking into account the needs of our business and market and environmental conditions.”
*Not investment advice.