Tesla has not sold any Bitcoin, Musk clarifies

Tesla Sold Bitcoin

Thank heavens! Elon Musk has disclosed that Tesla as not sold any Bitcoin, amid speculation over the weekend that the electric car company may have sold the digital currency that it keeps in its treasury.

The Tesla boss got into a heated debate with the Bitcoin community Sunday after he announced that his company has suspended accepting Bitcoin for payments due to its environmental concerns. Meanwhile, the price of Bitcoin plummeted as a result.

This was something that BTC enthusiasts did not take lightly, and it led to an assumption that the carmaker may have sold its Bitcoin stash or might be planning to sell them shortly.

To end speculation, Musk confirmed early Monday morning that Tesla has not dumped its bitcoins.


This clarification concurred with the statement that the company made when it announced that has suspended accepting Bitcoin as a means of payment.

The company, while citing environmental issues as the reason for this turn, wrote that it will not be selling any amount of its holdings of the digital currency, and intended to use it for transactions as soon as mining transitioned to more sustainable energy.

Tesla had bought $1.5 billion worth of Bitcoin in the first quarter, and began accepting the digital currency for payments in late March.

At the end of April, its stash was worth $2.5 billion.

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