Tesla reveals secret bitcoin stash worth $2BILLION as Elon Musk’s crypto tweets land company in court

TESLA has revealed that it’s been holding Bitcoin worth $1.99billion since December 31, 2021.

The car marker invested $1.5billion in Bitcoin last year.

AFPTesla’s stance on Bitcoin has been associated with big changes to the crypto market[/caption]

This Bitcoin investment resulted in the company recording big losses whenever the cryptocurrency value dipped.

Elon Musk’s electric vehicle company was even accepting Bitcoin as payment for certain items.

However, Musk put at stop to this last year as he grew concerned over the negative environmental impacts of the cryptocurrency mining process.

Tesla has also revealed that it was summoned to court by the US securities regulator for allegedly violating terms of a previous agreement.

The U.S. Securities and Exchange Commission (SEC) claimed some of Musk’s tweets go against a previous court ruling.

Since 2018, Musk is supposed to have Tesla-related tweets approved by lawyers.

The SEC is worried about how much control Musk’s tweets can have on the stock market.

Musk was accused of triggering a large stock sell-off in November after asking his Twitter followers whether he should sell 10% of his Tesla stake.

Shares in the electric-car manufacture have dipped by almost a quarter since that tweet.

In 2018, Musk had to settle a lawsuit with the SEC after he tweeted about taking Tesla private at $420 per share.

The SEC said this was misleading and caused Tesla’s stock price to jump and cause “significant market disruption”.

Musk had to step down as chairman of the board for Tesla as part of the settlement.

This hasn’t stopped the billionaire using Twitter frequently and he is still known for his controversial tweets.

ReutersMusk’s tweet often cause controversy[/caption]

In other news, Elon Musk has accused Biden of snubbing Tesla and “treating the American public like fools”.

Musk has revealed that updates to his Starship rocket plans will be announced at a presentation this week.

And, Nasa has revealed some stunning images taken by its Chandra X-ray Observatory space telescope.