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Tesla’s bitcoin investments are still revolutionary.


Oct 21, 2021
Tesla's bitcoin investments are still revolutionary.

The company is still investing in bitcoin.

Tesla Inc. has decided to keep its early bitcoin investment, which has helped to legitimize the world’s most popular digital currency.

The electric vehicle manufacturer announced in February that it had invested $1.5 billion in bitcoin before selling 10% of its holdings in April. According to Tesla’s most recent reports, its digital assets totaled $1.26 billion at the end of the quarter.

Musk’s tweets demonstrate the company’s dedication to bitcoin.

Bitcoin surpassed $66,000 for the first time on Wednesday, as investors gained confidence in the digital currency’s acceptance.

Tesla CEO Ilon Musk’s recent tweets have raised doubts about the company’s long-term commitment to bitcoin. Musk praised the Doge coin as a viable alternative on Twitter, where he also shared photos of his new Shiba Inu, Floki, who looks a lot like the Doge coin’s fictional mascot.

Musk announced in May that, despite his reservations about bitcoin, the company would not sell its holdings, citing the use of fossil fuels in bitcoin mining and transactions as a reason.

Tesla initially stated that bitcoins would be accepted as a form of payment in the continental United States, but Musk later changed his mind.

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