Bitcoin advocates say other companies like Apple and Amazon may follow. Elon Musk announced: now you can buy a Tesla by paying for it in Bitcoin.Elon Musk has also added some details that have stirred the market. Giant mass media outlets like Reuters and Bloomberg picked up on the story, but the user later admitted that it was a prank, and he was actually on LSD when he wrote it. TIME won’t be the first non-crypto company to keep Bitcoin on its balance sheet. Representations of virtual currency Bitcoin are seen in front of Tesla logo in this illustration By Bhargav Acharya (Reuters) - A Reddit user claiming to be a Tesla insider appeared to announce the carmaker's purchase of bitcoin a month ago, according to a January post on the platform that said the electric carmaker had bought $800 million worth of Bitcoin . Finance had suggested that Tesla had bought its stash of Bitcoin for an average price of $34,200. Tesla customers can now buy its electric vehicles with bitcoin, its boss, Elon Musk, said on Wednesday, marking a significant step forward for the cryptocurrency’s use in commerce. A Reddit poster who claimed to be in the know of Tesla Inc’s (NASDAQ: TSLA) investment in Bitcoin (BTC) has confirmed that the information he … In fact, the Tesla CEO he stressed that the BTC that Tesla will collect with the sales will not be converted into FIAT currencies, but will remain in Bitcoin.. MarketWatch First Take Opinion: Tesla turns a profit on bitcoin sale, but its ‘Technoking’ and ‘Master of Coin’ say it won’t become a habit Last Updated: April 27, 2021 at 10:56 a.m. By Bhargav Acharya (Reuters) - A Reddit user claiming to be a Tesla (NASDAQ: TSLA) insider appeared to announce the carmaker's purchase of bitcoin a … The company also said it would start accepting bitcoin as a payment method for … A Reddit user claiming to be a software developer at Tesla posted that the company had bought bitcoin more than a month before Tesla CEO Elon Musk formally announced it. An anonymous Reddit user, who made a post claiming the multibillionaire’s electric car manufacturer Tesla would buy $800 mn in Bitcoin before the automotive giant announced it had actually acquired $1.5 bn in the cryptocurrency, has admitted that his post was a hoax. Cloud software company MicroStrategy and payment processing firm Square pioneered that approach. By Bhargav Acharya (Reuters) – A Reddit user who claimed in a post a month ago to be a Tesla Inc insider and knew about the electric car maker’s purchase of bitcoin said … According to CNBC, Tesla wrote in the SEC filing that it bought the bitcoin to add “more flexibility to further diversify and maximise returns on our cash.” While accepting bitcoin as a form of payment could help encourage more people to buy a Tesla – especially since Tesla will be the first major carmaker to accept it – it could also work to boost the company's financials. What is clear, however, is that unless Tesla sells its bitcoins for a profit, the accounting treatment for its crypto position is skewed to the downside. While Tesla’s $1.5 billion bitcoin purchase shook the world, a Reddit user also caused disturbance as it seemed that he predicted the move a month before it was announced. Of course, the announcement in itself helped to increase the price of Bitcoin. Bitcoin blows past $48,000 for first time as Tesla glow endures Tesla said on Monday it had bought $1.5bn worth of Bitcoin and would soon accept it as a form of payment. By Bhargav AcharyaFeb 9 (Reuters) - A Reddit user claiming to be a Tesla insider appeared to announce the carmaker's purchase of bitcoin a ... 'Our Company just bought 800 Million worth of Bitcoin.' Tesla's revelation that it had bought $1.5 billion of bitcoin sent the cryptocurrency soaring. Tesla now accepts Bitcoin as payment, yet in its own terms and conditions, the automaker pretty much explains why it isn’t such a hot idea to buy a Tesla with Bitcoin. https://electrek.co/2021/04/26/tesla-tsla-sold-some-bitcoins (This Feb 9 story corrects paragraph 12 to read “r/TSLA” instead of “r/TESLA” subreddit.) The purchase of bitcoins gave impetus to Tesla itself. Tesla announced in an SEC filing Monday that it has bought $1.5 billion worth of bitcoin. A Reddit user who claimed in a post a month ago to be a Tesla Inc insider and knew about the electric car maker's purchase of bitcoin said on Tuesday that his assertions were not true. A Reddit user who claimed in a post a month ago to be a Tesla Inc insider and knew about the electric car maker's purchase of bitcoin said on Tuesday that his assertions were not true. When Bitcoin’s price hit its high point of $58,330.57 over the weekend, the collective value of Tesla’s BTC would have ballooned to $2.56 billion — meaning Wedbush’s numbers add up. The fact that Tesla owns a large number of bitcoins adds fuel to the fire. However, due to its volatile price, it does make using it to buy goods complicated. Rumor has it that Elon Musk himself bought coins for himself. Firstly, the shares have risen in value. A moderator for the Tesla forum appeared to delete the post after fellow Reddit users mocked it, with one describing it as a "dumb post". Tesla itself has invested heavily in Bitcoin and brought $1.5bn worth, given Bitcoin the much-needed confidence allowing it to shoot up to a record high. Tesla Inc chief Elon Musk said on Wednesday the company's electric vehicles can now be bought using bitcoin and the option will be available outside … That would suggest it is currently holding about 43,859 BTC in reserve. This makes Tesla a major player in the market, which is partly what allowed Bitcoin to reach unprecedented heights. When electric automaker Tesla bought $1.5 billion in Bitcoin earlier this year, it announced in SEC filings that it may keep any Bitcoin it receives for car purchases. Interestingly, a Tesla owner told Reuters that he actually bought a Tesla with bitcoin back in 2016. Elon Musk has hit back at a critic who claimed he pumped and dumped Bitcoin to "make a fortune" after Tesla reported first quarter earnings that surpassed market expectations.The electric carmaker reported net income of $438 million for the quarter ending in March, while total revenue grew 74 percent year-on-year.Analyst estimates had put total earnings… 9 Feb 2021 This means that it is intention aside of the company to increase i Bitcoin payments. A Reddit user who claimed in a post a month ago to be a Tesla Inc insider and knew about the electric car maker's purchase of bitcoin said on Tuesday that his assertions were not true. Today in an SEC filing, Tesla disclosed that it has acquired $1.5 billion worth of bitcoin, the popular cryptocurrency.Moreover, the company noted that it may also accept bitcoin in the future as a form of payment for its cars, though it did allow that there is some regulatory uncertainty around that effort.
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