Tesla has bitcoin holding worth $1.31bn. The company did not buy or sell any bitcoin during the second quarter of the year.
This was according to Tesla’s second-quarter earnings report. According to the report, the company recorded bitcoin-related impairment of $23m.
The report showed that Tesla did not buy or sell any bitcoin in the second quarter. The company’s Q2 unaudited statement of cash flows showed that the only cryptocurrency purchase made was the $1.5bn BTC purchase in Q1.
According to Bitcoin.com, earlier in June, Tesla Chief Executive Officer, Elon Musk, had said in a tweet on June 13: “Tesla only sold 10 per cent of holdings to confirm BTC could be liquidated easily without moving the market.”
Tesla’s financial statements confirmed Musk’s previous statements that Tesla would not sell its bitcoins. Musk had said on several occasions that neither he nor Tesla had sold any BTC.
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Tesla started accepting bitcoin as payments in March but stopped in May. Musk had cited environmental issues as the reason and said that Tesla would resume accepting bitcoin when miners confirm they are using 50 per cent clean energy.
On the other hand, according to Bitcoin.com, Amazon is exploring the possibility of accepting bitcoin as payments by the end of 2021, and the company is also set to launch its own token in 2022.