Elon Musk’s electric car company, Tesla, did not sell any bitcoin in the fourth quarter, according to the company’s latest financial statement. Tesla is holding bitcoin worth $1.26 billion. The company still has not resumed accepting bitcoin payments but now accepts the meme cryptocurrency dogecoin (DOGE) for some merchandise.
Tesla didn’t sell Bitcoin in the fourth quarter
Tesla released its fourth quarter and fiscal year 2021 financial statements on Wednesday. The company’s unaudited balance sheet shows net digital assets of $1.26 billion at the end of December last year. This amount is unchanged from the third quarter.
Tesla’s unaudited statement of cash flows also shows that there was no purchase or sale of digital assets in the last three quarters. The only cryptocurrency purchase Tesla made was bitcoin in the first quarter in the amount of $1.5 billion. The only sale the company made was also in the first quarter.
While Tesla has never revealed how much bitcoin it owns, Musk previously hinted that it was close to 42K BTC.
The electric car company started accepting bitcoin for payments in March 2021. However, the company halted accepting the crypto in May citing environmental issues.
Musk then said that Tesla would resume accepting BTC when bitcoin miners can confirm the use of clean energy. “When there is confirmation of reasonable (~50%) clean energy usage by miners with a positive future trend, Tesla will resume allowing Bitcoin transactions,” he said. However, Tesla still hasn’t started accepting bitcoin again.
Meanwhile, Tesla is now accepting the meme cryptocurrency dogecoin (DOGE) for some merchandise. Musk, also known in the crypto community as the Dogefather, has been a longtime supporter of dogecoin. He recently tried to tempt McDonald’s to accept DOGE by offering to eat a happy meal on television if the fast-food chain accepts the meme coin. However, McDonald’s replied to Musk that it will only accept DOGE if Tesla accepts “grimacecoin.”
