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Elon Musk's Tesla Holds Its $1.3B Bitcoin Position in Q2


27 Jul 2021

#Bitcoin

Despite its recent concerns about bitcoin’s environmental impact, Tesla hasn’t sold any more bitcoin. Elon Musk's electric vehicle company reported no new sales or purchases of digital assets, according to its Q2 earnings presentation Monday. The company holds $1.3 billion in bitcoin.

Tesla announced in February it had purchased $1.5 billion worth of bitcoin. Later in Q1, the company trimmed its bitcoin position by 10%, a sale that boosted that quarter’s earnings by $272 million. Recently, Musk also revealed that one of his privately-owned companies, SpaceX, holds bitcoin.

Tesla reported a $23 million impairment on its bitcoin holdings. This is because bitcoin is considered an inventory asset, which means that under Generally Accepted Accounting Principles its value is recorded at the lowest price bitcoin hit in the quarter.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 90.8% 2 $27 060.57 2.57% 1.46% $527 654 007 369 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 90% 5 $1 675.53 3.68% 4.95% $201 459 487 311 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 94% 1 $1.000845 0.16% 0.08% $83 346 901 195 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 91.6% 4 $216.29 1.61% 2.38% $33 275 819 779 BNB 7 days price change
5 XRP (XRP) XRP XRP predictions 92.4% 9 $0.508986 2.05% -0.02% $27 135 264 539 XRP 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 92% 1 $1.000627 0.06% 0.04% $25 546 311 582 USDC 7 days price change
7 Lido stETH (STETH) STETH Lido stETH predictions 93.6% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
8 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 82.8% 24 $0.088277 4.40% 6.03% $8 975 631 926 WTRX 7 days price change
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11 Solana (SOL) SOL Solana predictions 88.8% 20 $20.21 5.47% 2.45% $8 344 217 667 SOL 7 days price change
12 TRON (TRX) TRX TRON predictions 82.8% 22 $0.088719 4.86% 6.27% $7 903 170 455 TRX 7 days price change
13 Toncoin (TON) TON Toncoin predictions 62.8% 84 $2.23 2.50% -3.09% $7 667 083 649 TON 7 days price change
14 Dai (DAI) DAI Dai predictions 95.6% 1 $0.999875 0.01% 0.01% $5 347 220 318 DAI 7 days price change
15 Polkadot (DOT) DOT Polkadot predictions 90.8% 7 $4.10 1.87% 1.81% $5 032 931 540 DOT 7 days price change

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