Elon Musk’s Tesla Could Have Earned $17 Billion from Bitcoin, Here’s What Went Wrong
The post Elon Musk’s Tesla Could Have Earned $17 Billion from Bitcoin, Here’s What Went Wrong appeared first on Coinpedia Fintech News
What if Tesla never stopped accepting Bitcoin? According to Tomas Grief, Chief Product Officer at Brainns, the EV giant could have amassed 160,000 BTC, now worth over $17 billion — simply by accepting just 2% of its car sales in Bitcoin since 2021.
That stash would now be nearly half of Tesla’s total profits since 2021.
Tesla’s $17 Billion What-If Scenario
On May 12, 2021, Elon Musk stunned the crypto world. In a now-famous tweet, the Tesla CEO announced the company would suspend accepting Bitcoin for vehicle purchases, citing environmental concerns:
“Cryptocurrency is a good idea on many levels… but this cannot come at great cost to the environment.”
He added Tesla wouldn’t sell its BTC and would reconsider transactions when mining became more sustainable.
Here’s What Could Have Happened If Tesla Kept Going
In a post on X, Tomas Grief shared a mind-blowing projection:
If just 2% of Tesla’s sales since 2021 had been in Bitcoin — and the company held onto the BTC — Tesla would now own around 160,000 BTC.
- On May 12, 2021 (the day Tesla paused BTC payments), Bitcoin was $56,667
- In just 11 days, BTC dropped nearly 39% after the announcement
- Today, Bitcoin trades around $108,826, up 88.9% year-over-year
- That 160,000 BTC stash would now be worth over $17 billion
To put it in perspective:
Tesla has made about $40 billion in profits since 2021. That means their potential BTC stash would have equaled 42.5% of total profit.
Why Tesla Paused Bitcoin Payments
Musk’s decision came amid rising scrutiny of Bitcoin’s environmental impact:
- High energy consumption, mostly from fossil fuels
- Significant carbon emissions and electronic waste
- Concerns about water and land usage
While Bitcoin mining is slowly shifting towards renewables, these sustainability issues remain unresolved, making the tech community divided on its long-term viability.
- Also Read :
- Is the Bitcoin Bull Run Over or Just Getting Started?
- ,
Could Tesla Reconsider Accepting Bitcoin?
As of now, Tesla has not resumed BTC payments for its vehicles.
However, Elon Musk’s recent comments hint at a renewed interest in crypto:
- His new political group, the “America Party,” will accept Bitcoin donations
- He recently posted that “fiat is hopeless” on X
Still, these remarks are personal and not official corporate decisions from Tesla Inc.Interestingly, Tesla has reportedly benefited from new accounting rule changes, allowing the company to report gains on its BTC holdings — sparking speculation of renewed crypto interest.
Never Miss a Beat in the Crypto World!
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
