Read Tesla crypto news, including Bitcoin holdings, executive commentary, payments policy, and the company’s impact on digital asset markets.
Tesla sold Bitcoin worth $64 million in the third quarter to limits its net losses to about $106 million.
Christian Nwobodo 2 min read 
Elon Musk said Dogecoin is a better payment token than Bitcoin and added that it can be used to pay for underground travel around Las Vegas.
Bitcoin's 59% decline during the second quarter resulted in significant losses for Tesla, MicroStrategy and Block based on their previous holdings disclosure.
The crypto community responds negatively to the Bitcoin sale, but Tesla retains 10,500 BTC and Elon Musk said he's open to buying more in the future.
Tesla revealed that its Bitcoin trade brought $936 million to its balance sheet.
Mining companies Block and Blockstream are setting up a joint mining facility and are using Tesla's solar energy storage facility Megapacks for power.
The stated requirements for Tesla to start accepting Bitcoin payments may now have been reached. Will Elon Musk acknowledge the positive trend?
Tesla is building a solar-powered facility in collaboration with Block and Blockstream for green Bitcoin.
Tesla recorded an impairment loss of $101 million on its Bitcoin holdings for 2021.
