Tesla CEO Elon Musk has hinted at the number of bitcoins the electric vehicle company holds after a Tesla shareholder conducted a rough calculation based on the company’s latest SEC filing. The filing shows that as of June 30, 2021, Tesla’s digital asset holdings had a carrying value of $1.31 billion and a fair market value of $1.47 billion.
Tesla's Bitcoin Holdings Revealed
Shareholder Dave Lee used the June 30 closing price of bitcoin (~$35,040) to estimate that Tesla holds 42,069 BTC. Musk replied on Twitter: “We don’t have that many bitcoin, but it’s close.” This confirms that Tesla’s stash is around 42,000 bitcoins, making it one of the largest corporate holders of the cryptocurrency.
Tesla originally purchased $1.5 billion worth of bitcoin in the first quarter of 2021. The company briefly accepted bitcoin payments in March but suspended them in May, citing environmental concerns related to mining. However, Musk has since indicated that Tesla is likely to resume bitcoin payments, a statement he made during the "B Word" conference.
At the end of Q2 2021, the value of Tesla’s bitcoin holdings stood at $1.311 billion after impairments, down from $2.5 billion in April. Despite the volatility, Tesla has not sold any of its bitcoin, according to the filing.
Musk's Personal Holdings and Market Impact
Elon Musk also revealed that he personally owns bitcoin, ether, and dogecoin, and that his other company, SpaceX, holds bitcoin as well. The only public company with a larger bitcoin treasury than Tesla is Microstrategy, led by Michael Saylor, which holds approximately 105,085 bitcoins.
Musk’s hint reaffirms corporate Bitcoin adoption as a key trend, and his comments about potentially resuming bitcoin payments could spur further mainstream acceptance. The market reacted positively, with bitcoin prices remaining above $35,000 at the time of the disclosure.