Elon Musk hints at how many bitcoin Tesla currently owns.

Tesla and SpaceX CEO Elon Musk has just hinted how many bitcoins Tesla owns after revealing that the fair market value of its bitcoin holdings was $1.47 billion as of June 30. Elon Musk commented on how many bitcoins his electric car company owns in response to a rough calculation provided on Twitter by Tesla shareholder Dave Lee. 

Tesla’s bitcoin holding is close to 42,000 BTC. 

Lee used $1.47 billion as the fair market value of Tesla’s entire bitcoin holdings, as shown in the company’s Form 10-Q filed with the U.S. Securities and Exchange Commission (SEC). Tesla wrote, “As of June 30, 2021, the carrying value of our digital assets held was $1.31 billion, which reflects cumulative impairments of $50 million. The fair market value of such digital assets held as of June 30, 2021, was $1.47 billion.” Lee also used the price of bitcoin at close on June 30, which was about $35,040. On that day, the high of the BTC price was $35,189.75, and the low was 34,155.90 based on data from Bitcoin.com Markets. 

Only @elonmusk and $TSLA’s master of coin would do this…

42,069 Bitcoins
x
$35,040 ($BTC close price on 6/30)

= $1.474B… or rounded to $1.47B as disclosed in their 10-Q pic.twitter.com/PXJ3wZusrr

— Dave Lee (@heydave7) July 28, 2021

Tesla bought bitcoin worth $1.5 billion in the first quarter.

Tesla bought bitcoin worth $1.5 billion in the first quarter. The company also began accepting the cryptocurrency as a means of payment in March but stopped in May, citing environmental concerns. However, Musk said at a recent bitcoin event, “The B Word,” that Tesla will likely resume accepting bitcoin. Lee suggested that Tesla is holding 42,069 BTC. Musk subsequently replied: “We don’t have that many bitcoin, but it’s close.” At the end of the second quarter, Tesla reported its bitcoin holdings worth $1.311 billion after impairments.