How Tesla Purchases $1.5 billion in Bitcoin

Tesla was thought to have purchased Bitcoin at about $36,000, the price prevailing when the company announced its investment in February, but the price appears to have been closer to $32,000, based on its first-quarter financial filing

Did Tesla really buy bitcoin?

Tesla, led by Elon Musk, confirmed that it purchased about $ 1.5 billion in bitcoin in January and expects to start accepting it as a payment in the future.

How much did Elon Musk pay for his bitcoin?

In Q4 of last year, Musk purchased $1.5 billion in Bitcoin in one of the most adventurous moves ever undertaken by a corporate treasury.

Also Read: Facebook Valentine Date – Facebook Valentine Dating Update

Does Tesla accept bitcoin?

In March 2021, Tesla CEO Elon Musk had announced on Twitter that the carmaker would accept the most popular and largest cryptocurrency, Bitcoin as a mode of payment to purchase electric vehicles.

Mr Musk cited climate change as the main reason behind the company’s decision to discontinue accepting the cryptocurrency.

What crypto will Tesla accept?

dogecoin

Tesla chief Elon Musk said on Tuesday the electric carmaker will accept dogecoin as payment for merchandise on a test basis, sending the meme-based cryptocurrency up over 20 per cent. “Tesla will make some merch buyable with Doge & see how it goes,” Musk said in a tweet.

Does Elon Musk accept dogecoin for Tesla?

Dogecoin jumps after Elon Musk announces that Tesla will accept the meme coin—for merch. … On Friday, electric-vehicle maker Tesla began accepting Dogecoin, a dog-themed cryptocurrency, as payment for some merchandise on its website. “Tesla merch buyable with Dogecoin,” Tesla CEO Elon Musk tweeted on Friday.

Is Doge better than Bitcoin?

In a recent interview with Time magazine, the Tesla and SpaceX chief said when it comes to transactions per day,

Dogecoin is a way better crypto coin.

“The total transaction flow that you do with Dogecoin is transactions per day has much higher potential than Bitcoin.”

Tesla also said it will start accepting payments in bitcoin in exchange for its products “subject to applicable laws and initially on a limited basis.”

That would make Tesla the first major automaker to do so. The $1.5 billion worth of bitcoin will give Tesla liquidity in the cryptocurrency once it starts accepting it for payments.