The filing states that the company had US$19.38 billion of cash and cash equivalents with US$6.76 billion of those holdings in Canadian dollars, Chinese yuan and euros at the end of 2020.Tesla’s bitcoin bet skyrockets BTC to new ATH But here we are - in 2021, the crypto market value has now surpassed the US$1 trillion mark.ġ. Bitcoin was just a figment of Satoshi Nakamoto’s imagination. Pre-2008, institutional demand for non-fiat digital currency would have been the stuff of fiction. And the demand is increasingly coming from institutions. Miners are working hard right now to unlock more bitcoin to meet demand. More important, you should note the representation of Corporate America that just approved the move into bitcoin, including Oracle, Walgreens, Kellogg, Twenty-First Century Fox, well… you get my point. The move was approved by its board of directors, which consist of names you might know, like Larry Ellison and James Murdoch. If you haven’t heard (yet), Tesla disclosed in an SEC filing this week that it had purchased US$1.5 billion in bitcoin. Happy Year of the Ox to one and all, and what a bull run it is to kick off a year of prosperity when it comes to innovation.
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