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ETH$3 156.41

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Tether
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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 71.6% 50 $58 559.96 2.38% 3.21% $1 154 812 960 642 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 73.2% 47 $3 156.41 2.82% 4.94% $379 442 663 912 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 96% 1 $1.000241 -0.03% 0.02% $112 444 486 409 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 75.6% 47 $537.43 2.76% 4.65% $79 314 835 366 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 84.8% 29 $140.11 3.37% 0.90% $65 005 204 945 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 91.2% 1 $1.000019 -0.03% 0% $33 921 359 438 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 80.4% 29 $0.511133 8.39% 17.32% $28 523 946 602 XRP 7 days price change
8 Toncoin (TON) TON Toncoin predictions 82.4% 25 $7.35 1.77% -2.59% $18 430 033 618 TON 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 75.6% 52 $0.109656 3.69% 0.23% $15 910 785 300 DOGE 7 days price change
10 Cardano (ADA) ADA Cardano predictions 79.6% 33 $0.420572 5.61% 17.72% $15 090 547 161 ADA 7 days price change
11 TRON (TRX) TRX TRON predictions 77.6% 41 $0.139302 1.97% 7.58% $12 137 253 382 TRX 7 days price change
12 Lido stETH (STETH) STETH Lido stETH predictions 95.6% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
13 Avalanche (AVAX) AVAX Avalanche predictions 74.8% 55 $25.81 3.07% 0.18% $10 180 113 573 AVAX 7 days price change
14 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 92% 1 $0.116354 -0.46% 0.23% $10 171 995 609 WTRX 7 days price change
15 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 92% 1 $65 806.83 0.78% -2.68% $10 083 957 608 WBTC 7 days price change

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