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    Home » Crypto News » Tesla’s $1.5B Bitcoin Buy Amounts to 15% of The Company’s Net Cash Holding

    Tesla’s $1.5B Bitcoin Buy Amounts to 15% of The Company’s Net Cash Holding

    Author: Anthonia Isichei

    Last Updated Feb 8, 2021 @ 17:30

    According to the SEC filing, Tesla’s recent bitcoin buy amounts to about 15% of the company’s net cash holdings.

    Following the news about Tesla’s billion-dollar investment in bitcoin, analysts reveal that the Elon Musk-led company invested around 15% of its net cash into the flagship cryptocurrency.

    • As reported by CryptoPotato earlier today, Tesla made headlines across the crypto verse after it invested $1.5 billion into bitcoin, as revealed in a 10k form filing with the U.S. SEC.
    • Meanwhile, David Lawant, a Research Analyst at Bitwise Asset Management, tweeting shortly after the bitcoin investment, noted that the company put in up to 15% of its cash equivalent in BTC.
    • According to Lawant, the SEC filing showed that Tesla has $19.4 billion in gross cash or $9.8 billion in net cash.
    • With the above figures, the Bitwise research analyst noted:

    “Using these figures as a reference, $1.5 billion in #Bitcoin represents an allocation of 7.7% on gross cash or 15.1% on net cash.”

    • Also, Tesla’s BTC investment positively affected the price of bitcoin, with the BTC price reaching a new all-time high of $44,000.
    • There were speculations back in December 2020 about whether Tesla would join the bitcoin bandwagon when Elon Musk asked Microstrategy CEO Michael Saylor questions about BTC.
    • At the time, the MicroStrategy CEO advised Musk to convert the TSLA balance sheet from USDT to BTC.
    • Saylor, in a later interview, stated:

    “If Tesla puts $1 billion dollars (in BTC) they will double their money within 12 months. If they put $2 billion in, they will probably generate a $10-billion gain. By the way, anybody could do it. If you’re a billionaire hedge fund guy, you put a billion into Bitcoin, just put it out on the wire and say you did it.”

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    Tags: Bitcoin Bitcoin (BTC) Price Elon Musk Tesla
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    About The Author

    Anthonia Isichei
    More posts by this author

    Anthonia is a fintech writer who has been involved in the crypto space since 2017 covering developments across regulations, adoption, and several other aspects of the Industry. When not neck-deep in the crypto news cycle, Anthonia spends her free time globetrotting and playing video games.

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