Telsa Coverts 10% of its Balance Sheet to Bitcoin

Tesla converted about 10% of its balance sheet to Bitcoin last week, spending a total of $1.5 billion of its roughly $19 billion in cash holdings on Bitcoin.

This can be shown to be true by an official announcement from the company and an SEC filing.

This comes on the back of Bitcoin adoption by companies like Microstrategy, Square, PayPal, Visa, Mastercard, Fidelity, and more. It is possible that we will see other follow suit given Tesla’s status.

For more, see CNBC’s “Tesla buys $1.5 billion in bitcoin, plans to accept it as payment.”