Since each individual's situation is unique, a qualified professional should always be consulted before making any financial decisions. Elon Musk wasn’t one of the founding fathers of Tesla, but contributed the most money toward the company’s initial development. As of the date this article was written, the author owns no cryptocurrencies. That would suggest it is currently holding about 43,859 BTC in reserve. Here's how much he currently owns 1 min read. Billionaire Elon Musk is a huge fan of cutting-edge technology and is usually ahead of the curve when it comes to finance, but he's not a bitcoin bull. (See more: Bitcoin Is 'Poison,' Says Berkshire Billionaire Charlie Munger. Tesla says it has invested more than $1 billion in Bitcoin and will accept the digital currency as payment for its electric vehicles. Tesla announced in an SEC filing Monday that it has bought $1.5 billion worth of bitcoin. Tesla’s bitcoin purchase at the time caused a spike in the price of the largest crypto asset by market capitalization. Previously, estimates from Yahoo! Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on balance sheet. RELATED: Elon Musk: You Can Now Buy a Tesla With Bitcoin. “This is not just a bubble," Elliott wrote. But don’t worry — if you use Bitcoin to buy something from Tesla, we’ll tell you both the US Dollar price and the Bitcoin equivalent price. Bitcoin Is 'Poison,' Says Berkshire Billionaire Charlie Munger. The company also said it would start accepting bitcoin as a … No matter how much it does own, however, bitcoin comprises a small chunk of Tesla's overall market cap. One thing we know is, that there was a massive area of demand around 32000$ during January that could have been Tesla’s bids and based on that average price we’d look at a whopping 46875 BTC. Elon Musk also confirmed that despite Tesla having sold a small portion of its Bitcoin holdings, he himself has stuck to his guns and held on throughout this dip. Today, one BTC is worth roughly $46,420; as such, Square’s investment is now worth approximately $215 million. ", The true identity of Nakamoto has never been confirmed, but there has been a steady stream of speculation about who he is ever since bitcoin quietly launched in 2009. However, he does not seem in a rush to buy any more BTC yet. Updated: 17 May 2020, 08:02 PM IST IANS Tesla and SpaceX CEO Elon Musk has revealed his Bitcoin (BTC) holdings in a Twitter session with Harry Potter-famed British author JK Rowling. Later in March, Tesla announced that it was accepting BTC as a payment method for its vehicles. The offers that appear in this table are from partnerships from which Investopedia receives compensation. Bitcoin is a digital or virtual currency created in 2009 that uses peer-to-peer technology to facilitate instant payments. The SpaceX founder has been one of the most pro-crypto business leaders in the world right now. Scaramucci is a big-time Bitcoin proponent himself who sees Bitcoin replacing golf as a true store of value in the future. (See also: Tesla CEO Elon Musk Denies Being Bitcoin Creator.). Using today's bitcoin price of about $10,000 a coin, that translates to $2,500. The Block's annual outlook survey forecasts that fortune 500 companies will own bitcoin by the end of 2021. The serial entrepreneur – whose net worth tops $20 billion – made the revelation in response to a question about an online scam where random users pose as celebrities (like Musk) in a bid to steal people's cryptocurrencies. Ceo Elon Musk actually own currency as payment for its vehicles to hold Bitcoin the. 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