Tesla Holds 'Close' To 42,069 BTC, Elon Musk Says

Tesla Inc's TSLA CEO Elon Musk hinted at how much Bitcoin BTC/USD his electric vehicle producer firm's has on its balance sheet.

What Happened: In a Thursday tweet, Musk answered that Tesla does not have "that many Bitcoin, but it's close" to investing influencer Dave Lee's estimate that the automaker holds 42,069 Bitcoin.

We don’t have that many Bitcoin, but it’s close

— Elon Musk (@elonmusk) July 28, 2021

Tesla disclosed that it bought $1.5 billion of Bitcoin on June 30 and that the fair value of those assets at the time was $1.47 billion.

According to Lee'a estimations, June 30th's Bitcoin closing price of $35,040 means that 42,069 BTC would have cost the firm about $1.47 billion.

Tesla's $1.5 billion Bitcoin investment was reported early February, and the company also started accepting the cryptocurrency for car payments in late March.

Both those announcements apparently had a profoundly positive effect on Bitcoin's price and are believed to have played a major role in this year's historic bull run.

Then the firm's influence reversed when in mid-May, Musk tweeted a lengthy explanation about the decision for Tesla to stop accepting Bitcoin as payment for its cars because of the coin's miners polluting the environment.

Shortly after, Tesla's CEO suggested the company dumping its Bitcoin holdings as an answer to the cryptocurrency proponents' angry tweets over his negative influence on the price — apparently causing a further drop.

Read also: Elon Musk Owns Bitcoin, 'Some Ethereum And Some Doge:' Main Takeaways From The B Conference

Recently, Musk elaborated on the future of Bitcoin at Tesla further. He explained that Tesla could soon start accepting the cryptocurrency again if due diligence confirms preliminary findings that Bitcoin is turning a lot greener.

During a recent conference, he has gone as far as to admit that personally, he owns "by far Bitcoin and them some Doge and some Ether."

Price Action: According to CoinMarketCap data, Bitcoin's value increased by just 0.37% today and is trading at $39,928.