Tesla — a top 10 company in the Fortune 100 that is run by one of the world’s wealthiest people, Elon Musk — transferred $1.5 billion of its treasury cash into Bitcoin (BTC) in early February. Musk’s Bitcoin purchase startled traditional investors, who now had to understand how their investment in Tesla would relate to Bitcoin. Currently, much of Tesla’s revenue comes from selling surplus renewable energy credits, or RECs, which will dry up in the next several years as competing automakers produce their own zero-emissions vehicles and build up RECs with states that require them. In Tesla’s filing with …

A Bitcoin Cash (BCH) YouTuber has promised to buy 111 Tesla Model 3s … but only if Tesla CEO Elon Musk agrees to accept BCH for Tesla purchases from now on. Going by the title “1stmil.com,” the Australian YouTuber explained to almost 8,000 followers over three short videos that he believes Tesla would see a boost in sales as a result as there are many Bitcoin Cash supporters who want to spend their cryptocurrency, whereas Bitcoin (BTC) supporters tend to want to hang on to their holdings. “You will enjoy unbelievable amount of support by people who actually want to …

Cryptocurrency exchange Binance’s latest product — digital stock tokens representing fractions of equity shares like Tesla and Coinbase — is reportedly being studied by European and British regulators over its possible non-compliance with securities laws. A new report from the Financial Times claims that regulators are concerned the tokens may not provide sufficiently transparent corporate disclosures, specifically an investment prospectus, that would be required if the tokens were judged to be securities. Germany’s Federal Financial Supervisory Authority, or BaFin, told FT reporters that while it could not comment on the case specifically: “Fundamentally [...] the following applies: if tokens are …

Cryptocurrency exchange Binance is launching tradable stock tokens that aim to enable a wider section of the public to pocket capital returns on equities, including potential dividends, without having to purchase full, traditional shares. The first publicly tradable equity in the form of a Binance stock token will be Tesla, the share price of which currently hovers around the $700 mark. Rather than purchase a full, traditional share, for which custody of a physical share certificate is required, users can purchase as little as one one-hundredth of a Tesla share represented by a digital token. Binance stated: “Each digital token …

After becoming a corporate pioneer in cryptocurrency adoption, Elon Musk could be about to take the next step and begin paying rent in Bitcoin (BTC). While no announcement has been made by the “Technoking” himself, news broke on Wednesday regarding a partnership between Los Angeles real-estate firm Caruso Properties and the Gemini cryptocurrency exchange, founded by the Winklevoss twins. Following the partnership, Caruso will accept Bitcoin payments for rent at its various retail and residential properties. The firm’s deal with Gemini also saw Caruso convert about 1% of its treasury into Bitcoin, reports the L.A Times. Caruso owns the property …

Cathie Wood, the founder and CEO of Ark Invest, is cautioning investors not to sell or transact their Bitcoin (BTC) until the United States Internal Revenue Agency, or IRS, introduces more sensible tax policies on digital assets. In a webcast hosted by Cboe, Wood said transacting with BTC could lead to massive tax liabilities. "The IRS has something to say about this, so if you have huge gains in your Bitcoin, I don't think I would bear much in the way of transactions until we get maybe some changes on the tax front,” Wood said, according to Markets Insider. Using …

Controversial Bitcoin (BTC) spin-off Bitcoin Cash (BCH) has hit new all-time lows against its parent after Tesla publicly rejected using it for payments. In a series of tweets on March 24, CEO and "Technoking" Elon Musk confirmed that U.S. customers could now buy a Tesla using BTC — but his company shunned "fork products" such as BCH. Tesla: Don't send us anything but BTC Bitcoin Cash spun off from the Bitcoin blockchain in August 2017 and has since remained a controversial entity within cryptocurrency. Proponents claim supremacy over Bitcoin thanks to BCH fees being far lower while transactions also tend …

Bitcoin (BTC) recovered above $56,000 on March 24 after a new "Elon candle" put a familiar spring in the step of bulls. Crunch time at $58,000 Data from Cointelegraph Markets Pro and Tradingview showed BTC/USD gaining 3.3% over several hours during Wednesday on news that Tesla will accept — and keep — payments in Bitcoin. As with the company's initial announcement of a treasury allocation last month, the news immediately translated into spot price gains, as the gloom of this week's price action lifted. Analysts were thus interested in whether Tesla would spark a new phase in Bitcoin's bull market …

Bitcoin (BTC) shouldn't have a problem reaching $100,000 during the current cycle thanks to impressive behavior from hodlers. In their latest newsletter shared with Cointelegraph Markets, analysts from trading suite Decentrader sought to allay fears that Bitcoin's bull run is running out of steam. HODL Waves stay bullish Backing their optimism, they said, is data showing that more and more investors are hodling BTC for the long term — one year or more. Taken from the popular "HODL Wave" indicator, this suggests that there is less desire to sell Bitcoin at short notice at a certain price, providing a solid …

Elon Musk has announced that Tesla cars can now be purchased using Bitcoin (BTC). The electric car company’s CEO and “Technoking” said the firm would operate Bitcoin nodes directly, and would hold on to the Bitcoin it accumulates without converting it to fiat. You can now buy a Tesla with Bitcoin — Elon Musk (@elonmusk) March 24, 2021 Tesla first signaled its intention to start accepting Bitcoin for products in early February, following its purchase of $1.5 billion worth of the digital asset, an SEC filing showed. The option to buy a Tesla using BTC will only be extended to …

It has been 37 days since Tesla announced its $1.5 billion Bitcoin (BTC) purchase in a filing with the United States Securities and Exchange Commission. The exact BTC purchase size was not revealed in the document, but with Bitcoin trading between $29,000 and $37,000 in January, Tesla’s $1.5 billion outlay could mean the company holds at least 40,000 BTC. Based on these speculative figures and the Bitcoin price increase since the end of January, Tesla’s 40,000 BTC minimum is now worth $2.2 billion. This figure translates to $700 million in unrealized profit. Thus, Tesla is sitting on close to $19 …

Elon Musk’s love affair with cryptocurrency shows no sign of ending after a filing with the United States Securities and Exchange Commission announced the adoption of new official titles for him and a fellow Tesla executive. Starting Monday, Elon Musk will carry the official title of “technoking of Tesla,” while the firm’s chief financial officer, Zack Kirkhorn, will officially be known as “master of coin.” The 8-K form filed with the SEC states: “Effective as of March 15, 2021, the titles of Elon Musk and Zach Kirkhorn have changed to Technoking of Tesla and Master of Coin, respectively.” The filing …