Tesla Continues to Hold Bitcoin Despite Market Crash

• Elon Musk’s Tesla has not sold any Bitcoin in the fourth quarter, according to the company’s latest financial statement

• The electric car company currently holds $1.26 billion worth of Bitcoin after the latest market crash

• The company is yet to begin accepting BTC as payment but now accepts Dogecoin as payment for merchandise

Tesla’s latest financial statement has revealed that the company did not sell any of its Bitcoin in the fourth quarter of last year.

The company’s unaudited balance sheet shows that it had $1.26 billion worth of BTC as of the end of December last year. This amount is unchanged from what it held in the third quarter.

The statement of cash flows also indicated that the company has not purchased or sold any digital assets in the last 3 quarters.

The only cryptocurrency purchase made by Tesla was for Bitcoin in the first quarter for an amount of $1.5 billion.

The only sale that the company made was also in the 1st quarter when Musk claimed that the sale was made to indicate the liquidity of the flagship cryptocurrency.

Although the company had never disclosed how much Bitcoin it owns, Elon Musk once hinted that its BTC holding was around 42k.

The car manufacturing giant had also briefly accepted the cryptocurrency for payments between March and May.

The Bitcoin payment option ended when the world’s richest mining cited environmental concerns about the effects of BTC mining.

Musk has however promised that Tesla will resume accepting BTC for payment when there’s confirmation of reasonable clean energy usage by miners.

Dogecoin is the only cryptocurrency that is currently being accepted as payment by the car company, after Elon Musk announced that people could purchase Tesla merchandise with DOGE.

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