CEO of Tesla Motors owns over $5 billion in Bitcoin

CEO of Tesla Motors owns over $5 billion in Bitcoin

CEO of Tesla Motors owns over $5 billion in Bitcoin


Tesla and SpaceX CEO Elon Musk is one of the people who has been able to drive the bitcoin price and several other cryptocurrencies. The financial express revealed Musk already has $5 billion worth of bitcoin.

Indeed, the last time Musk told him how many bitcoins he owned was in February 2018. At that time – he said he had no other cryptocurrency.

He only has 0.25 BTC, which was sent by a friend a few years ago. In February this year – Musk purchased the US $1.5 billion in bitcoins for the climate change campaign. But on the other hand, the impact of bitcoin mining can affect the environment, because the energy is very large for mining.

According to Alex De Vries’ research, bitcoin mining is equivalent to an annual carbon emission of 98.9 megatons (Mt) of CO2 produced by the city of London.

In early February, this electric car producer has bought up bitcoin of approximately $1.5 billion. The price of this cryptocurrency has risen by almost 72%. Currently, the Bitcoin price has reached $ 57,000 per chip and has become the highest in history.

Meanwhile, Tesla bought bitcoin when the price was still in the range of US $30,000 to $40,000 in January 2021.

‘Bitcoin investment is a sideline for Tesla Company. It is definitely a good initial investment, and we expect a trend to impact other public companies over the next 12 to 18 months,’ Ives said in a note.