Tesla reportedly possesses $184 million in "BITCOIN"

Tesla Lovers 🤍!!

Elon Musk's electric vehicle business, Tesla, reported its fourth quarter 2023 profits on Wednesday, revealing a balance sheet with $184 million in net digital assets. This quantity of digital assets has been owned by Tesla since the end of 2022.

In a recent statement, Tesla stated that practically all of its digital assets were composed of bitcoin (BTC), adding that even while the firm does accept dogecoin (DOGE), a meme cryptocurrency, for some products, it has relatively little dogecoin overall.

Musk stated that "there's going to be bumps along the way" for Tesla on the results call, but he insisted:

"Long term, I am convinced that Tesla will be the most valuable company on earth."

In Q2 2022, Tesla sold 75% of the Bitcoins it had invested $1.5 billion in Q1 2021. The transaction was motivated by worries about the business's overall liquidity, "given Covid shutdowns in China," Musk said at the time. He also said that the company is "certainly open" to growing its bitcoin holdings in the future.

The billionaire recently revealed that Spacex, one of his other businesses, also has "a bunch of bitcoin." Additionally, Musk possesses "a bunch of" dogecoin in addition to ether (ETH) and bitcoin. Despite the fact that Musk and his businesses own cryptocurrency, he recently declared that he doesn't give it any thought. Moreover, he declared in November of last year that none of his businesses will ever produce a cryptocurrency token.

The CEO of Tesla is now developing his social media network X into what he hopes will become a "powerful" finance platform. He wants customers to use X for all of their financial transactions, possibly doing away with the necessity for conventional bank accounts. X has obtained twelve money transmitter licenses in the United States.

At last, we can finally acknowledge Elon's genius, right?