Elon Musk reveals owning a lot more of it than dogecoin and ethereum

Cryptocurrency folks might recall that early this year, Elon Musk’s Tesla (TSLA) had invested a ton in bitcoins, though prices to a huge nose dive a few months after. Despite that, it was revealed the electric car maker hasn’t sold any of its BTCs and even hinted at holding onto them in the meantime.   

Hodling those bitcoins

Musk made it clear that they had not sold any of its bitcoin. This after talks have been circulating in the crypto community that they did. The statement was made on Wednesday during the recent B-Word event which was also attended by equally notable personalities like Ark Invest CEO Cathie Wood and Twitter and Square CEO Jack Dorsey. He said that they are not selling any bitcoin, nor he’s selling it personally, nor his aerospace firm SpaceX is selling any BTC.  

SpaceX too

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The CEO revealed that alongside Tesla, SpaceX also holds bitcoin. It was not disclosed, however, about its exact number. During the online event, Musk affirmed that he too is a supporter of bitcoin adding that he has “a lot more” of that king token than that of dogecoin (DOGE) and ethereum (ETH) which he also owns.   

He also indicated that he’s not into that practice of pump-and-dump. Musk said, “If the price of bitcoin goes down, I lose money. I might pump, but I don’t dump.” He went on to say that he would like to see BTC succeed.   

They also touched on the topic of Tesla suspending the acceptance of bitcoin as a mode of payment. Further, Musk explained that such a move was just temporary. As for the coin’s energy consumption, he said that it looks like bitcoin is shifting a lot more toward renewables adding that a significant number of heavy-duty coal plants that were used have been closed down especially in China.   

Musk also added that I want to do a little more due diligence to confirm that the percentage of renewable energy usage is most likely at or above 50 percent and there is a trend toward increasing that number.” He went on to say that if this happens Tesla will most probably accept bitcoin payments once again.   

Close enough

Also, Musk – in a recent exchange of tweets – may have hinted as to how many bitcoins Tesla is in possession of. The YouTuber Dave Lee (@heydave7) recently tweeted what he believes to be the number of bitcoins Tesla has right now which according to him is at 42,069 BTC. Alongside it is a calculation showing how much it is if converted to the greenback where he arrived at a sum of $1.474 billion.   

Lee, who claims to be a long-time investor of Tesla, based his calculation on bitcoin’s price on June 30. This was the date the company used in its SEC filing as BTC was traded that time at $35,000. His tweet even posted a screenshot of a statement from Tesla where a part of it reads that “the fair market value of such digital assets held as of June 30, 2021, was $1.47 billion.   

The self-proclaimed Dogefather  took notice of the content creator’s estimate and debunked Lee’s claims. Musk stated that they don’t have that much bitcoin, though hinted that Lee’s close enough. 

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Steve Anderrsonhttp://www.thecoinrepublic.com
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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