Tesla is being criticized by the public as even after Elon Musk has criticized Bitcoin every now and then as he told about the environmental impact issues that the world is going to face because of the cryptocurrency Bitcoin, they still haven’s sold any of the Bitcoin that they have. it has been reported by the Q2 earnings in their presentation that Tesla has about 1.3 billion Bitcoin and they still haven’t sold or purchased the digital asset, the company announced in the month of February that they have purchased about 1.5 billion bitcoin and then they went on to trim the position of the Bitcoin by 10% which was the reason of the boost that Q1 saw in their sales.
Elon Musk Tesla Earnings
It has also been stated Elon Musk that his privately owned company which is Space X also holds Bitcoin and it has been reported that Tesla has about 23 Million when it comes holding Bitcoin, has been stated that Bitcoin is considered to be an asset which is inventory which means that Bitcoin is being recorded at it’s lowest when you talk about the quarter according to the accounting principles.
It has also been announced by Elon Musk that Tesla is no longer going to be accepting Bitcoin for their products which is because of the concerns that were raised by the CEO of Tesla as he stated that in the mining of Bitcoin fossil fuel and coal is being used and earlier this month Elon Musk also stated that Tesla is going to start accepting Bitcoin again as the environmental profile of the coin is improving and the only problem that he has with the coin is seemingly diminishing.
Oeople are criticizing Musk for being so casual with whatever he states as he is fully aware that a person of his influential power can make a market unstable and he still keeps on coming up with statements that are making the crypto market pretty unstable, the people are also calling the CEO out as they are referring him to be a hypocrite who is not understanding that he needs to stick to his statements rather than contradict himself every now and then. The story seems to still develop and we will be back with the updates as soon as something related to the story comes up.