Tesla could have accumulated 160,000 BTC, worth over $17 billion, if it had not stopped accepting payments in Bitcoin since 2021.
Tesla's decision to stop accepting Bitcoin in 2021 was based on environmental concerns, but if it continues to hold Bitcoin from 2% of vehicle sales, this value now equals nearly half of the company's total profits over the past three years.
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Since 2021, Tesla has stopped accepting Bitcoin due to environmental impacts, although it still holds BTC that it has purchased.
If holding Bitcoin from 2% of sales, Tesla could possess about 160,000 BTC, worth over $17 billion.
This Bitcoin value is equivalent to nearly 42.5% of Tesla's profits since 2021.
Why did Tesla stop accepting payments in Bitcoin?
Tesla's decision was made by CEO Elon Musk in May 2021 due to concerns about the negative environmental impact of Bitcoin mining. Musk emphasized, "Cryptocurrency is a good idea on many levels, but this cannot come at great cost to the environment."
Bitcoin mining consumes a large amount of energy, much of it from fossil fuels, leading to carbon emissions and electronic waste. Many experts in the technology field warn about the sustainability of Bitcoin if its energy usage process is not improved.
"Cryptocurrency is a good idea on many levels… but this cannot come at great cost to the environment."
Elon Musk, CEO Tesla, May 2021
Bitcoin is currently gradually shifting to using renewable energy sources, but environmental impact issues have not been fully resolved.
What will happen if Tesla continues to accept Bitcoin?
Based on an analysis by Tomas Grief, CPO Brainns, if Tesla maintains accepting Bitcoin at a rate of 2% of vehicle sales since 2021, the company could accumulate up to 160,000 BTC. With the current Bitcoin price around $108,826, the value of this Bitcoin exceeds $17 billion.
Since Tesla announced it would stop accepting Bitcoin (when BTC was approximately $56,667), Bitcoin has experienced many fluctuations, but the current price has increased nearly 89% compared to last year. The value of Tesla's Bitcoin holdings could represent about 42.5% of the company's total profits during this period (approximately $40 billion).
"Holding Bitcoin may have significantly boosted Tesla's profits, demonstrating the strength of adopting digital assets."
Tomas Grief, CPO Brainns, 2024
Compare revenue from Bitcoin and total profits of Tesla (2021–2024)
Value Factors Notes Estimated BTC Sales (2% of vehicle sales) 160,000 BTC Accumulated from 2021 to now, not sold Current BTC Value Over $17 billion Price around $108,826/BTC Total Profit Tesla (2021–2024) Approximately $40 billion Tesla financial reporting data BTC value ratio to profit 42.5% Most profits may come from holding BTC
Is it possible that Tesla will re-accept Bitcoin in the future?
Currently, Tesla has not officially reopened Bitcoin payments. However, Elon Musk has shown signs of interest in cryptocurrency by forming the political group "America Party" which accepts donations in Bitcoin and expresses critical views on fiat money.
However, this is just Musk's personal opinion, not Tesla's official policy. Additionally, Tesla still takes advantage of new accounting adjustments that support recognizing profits from Bitcoin, raising speculation about the return of digital currency in the company's plans.
Frequently Asked Questions
Why doesn’t Tesla sell the Bitcoin it has purchased? Tesla holds Bitcoin as a strategic asset, choosing not to sell to leverage long-term price appreciation potential and positive financial reporting.
How does Bitcoin mining harm the environment? Bitcoin mining consumes significant electricity, primarily from fossil fuels, causing large emissions and resource pressure on the country.
Environmental impact report, 2023 Can Tesla accept other cryptocurrencies as payment instead of Bitcoin? There is currently no official information, but Tesla's collaboration with other cryptocurrencies may depend on advances in greener technology.
Cryptocurrency market analysis How has the price of Bitcoin changed from 2021 to now? The price of Bitcoin has increased from about $56,667 to nearly $108,826, which means an increase of nearly 89% over more than 3 years.
Cryptocurrency market data 2024 How does Tesla's profit from Bitcoin affect its business results? Holding Bitcoin has significantly boosted Tesla's profits, with nearly half of total profits since 2021 possibly coming from the value of BTC.
Tesla financial report 2024
Source: https://tintucbitcoin.com/tesla-cua-elon-musk-kiem-17-ty-usd-bitcoin-that-bai/
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