Recently, the Twittersphere was on fire after rumors of a possible return of bitcoin in Tesla’s payment device. Photo of the source code in support, some observers allowed themselves some speculation on a position review from the electric car manufacturer about cryptocurrencies. Would Elon Musk’s company accept BTC again? Decryption.
Bitcoin, removed from Tesla source code
The bitcoin price hurt Tesla a lot last year. THE 2022 bear market indeed cost him total net loss of $140 million. The electric car maker had to do reverse with BTC payments and had even gotten rid of much of its crypto holdings.
According to U°Today, Tesla has completely given up on bitcoin settlements for its products and services. Because the source code of its page dedicated to payment no longer contains any sign of the queen of cryptocurrencies. Only dogecoin is included.
” Rumors have been circulating in the community that Tesla has added Bitcoin and Dogecoin to its payment page source code. However, after checking, it turned out that Bitcoin and Dogecoin were already present in the source code as early as January 2023. It looks like Tesla didn’t remove this code when it ended the bitcoin payment option. »
As stated in this tweet, Bitcoin and Dogecoin have integrated Tesla’s payment page source code since January 2023. In other words, Elon Musk’s company never removed BTC from this interface despite the cessation of receipt of payments in cryptocurrencies.
The DOGE did not suffer from an extraction. The proof that the boss always stays a big memecoin fan despite the instability of his opinions on cryptocurrencies.
” Currently, Tesla has removed ‘bitcoin’ from its payment page source code, but retains ‘dogecoin’. »
An adventure started in 2021
Bitcoin and Tesla met two years ago. In 2021, the electric car manufacturer invested $1.5 billion in the BTC.
There followed theflagship crypto acceptance as payment for its Tesla Cybertruck, Model 3/S/X/Y, etc. But Musk had to back down due to environmental concerns.
In the second quarter of 2022, Tesla has sold about 75% of its holdings in BTC for the sake of the company’s overall liquidity.
” At the end of the second quarter, we converted approximately 75% of our bitcoin purchases into fiat currency. Second quarter conversions added $936 million to our balance sheet. »
Since then, no sales and no purchases of bitcoins have been made by Tesla in 4 consecutive quarters. The electric car specialist reportedly has $184 million in BTC right now.
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