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Leading electric car maker Tesla holds around $2 billion worth of the flagship digital asset, Bitcoin, as of the end of last year. This was contained in the firm’s report to the United States Securities and Exchange Commission. According to the filing, the “fair value” of the Elon Musk-led company’s Bitcoin holding as of the end of December is $1.99 billion. It was also revealed that the company views crypto as an investment and liquid alternative to cash. A review of the report indicated that the company provided a timeline of the process leading to the accumulation of the asset. Tesla, in early 2021 purchased $1.5 billion worth of Bitcoin, a historical purchase. The company holdings were further boosted when it began to accept the asset as a payment option for its vehicles. The decision was later rescinded because of the environmental concerns of mining Bitcoin. However, the company has severally hinted that it could start accepting the crypto king again. “In the year ended December 31, 2021, we recorded approximately $101 million of impairment losses resulting from changes to the carrying value of our Bitcoin and gains of $128 million on certain sales of Bitcoin by us.” Speaking further in the report, the company noted that, at some point, it might choose to increase or decrease its Bitcoin holdings at any time. This decision would, however, be majorly driven by the needs of its business alongside its view of the market and environmental conditions. ————————————————————————- Like| Comment| Follow| share Are you into CRYPTO | NFT | TECHNOLOGY? Follow @cryptoworldpage Get daily cryptocurrency news updates Any questions | Comment below ⬇️ OR slide in our DM ————————————————————————- #cryptoworldpage #bnb #cryptocurrency #crypto #nftcollector #cryptoworldwide #btc #meta #btcnews #elonmuskquotes #nftdrop #tesla #dogecoin #teslamotors #teslamodels #eth #elonmusk #blockchainnews #cryptonewsdaily #metaverse #cryptoinfo #altcoin #cryptonews24 #cryptonews #cryptoinvestor #cryptoworld https://www.instagram.com/p/CZuwLuyLjjw/?utm_medium=tumblr

Canadian superstar rapper Drake is using bitcoin to bet that the Los Angeles Rams will beat the Cincinnati Bengals in the upcoming Super Bowl match on Sunday. The award-winning musician shared on Instagram that he placed a total of around $1.26 million worth of BTC in bets on Sunday’s match, including over $470,000 on Rams winning the Super Bowl and about $790,000 on the team’s wide receiver Odell Beckham Jr. “All bets are in on the family,” Drake said in an Instagram post that included images of his bitcoin bets. According to the pictures, Drake’s $790,000 bet on Beckham Jr. was equally split between two achievements of the wide receiver. The Rams’ athlete would need more than 62.5 receiving yards and over 0.5 anytime touchdowns in the game to get Drake on the green. “It’s time,” Beckham Jr. said in a comment to Drake’s Instagram post. Drake’s total payout could reach nearly $2.30 million, according to screenshots of the online betting app Stake shared in his post. While Drake puts bitcoin in hopes of getting more during the Super Bowl, some might play the low-stakes game and seek a no-downside reward in BTC instead. ————————————————————————- Like| Comment| Follow| share Are you into CRYPTO | NFT | TECHNOLOGY? Follow @cryptoworldpage Get daily cryptocurrency news updates Any questions | Comment below ⬇️ OR slide in our DM ————————————————————————- #cryptoworldpage #crypto #nftcollector #cryptoworldwide #btc #meta #btcnews #altcoinnews #nftdrop #coinbasewallet #drake #blockchainnews #cryptonewsdaily #champagnepapi #altcoin #superbowl #cryptonews #cryptoinvestor #cryptoworld https://www.instagram.com/p/CZ3nHWaoPtO/?utm_medium=tumblr

Democrat Representative Jason Powell introduced a draft bill to allow the state of Tennessee and other municipalities to invest in bitcoin, cryptocurrencies, and NFTs. Tennessee House Bill 2644, “as introduced, authorizes a county, municipality, or the state to invest in cryptocurrency, blockchains, and non-fungible tokens,” according to the bill summary. The bill was introduced on February 2 and assigned to the House Finance, Ways, and Means Subcommittee on Tuesday, where it stands for further consideration by committee representatives. Powell also introduced Tennessee House Bill 2643 on the same day to establish a blockchain and cryptocurrency study committee “to help determine how to make [Tennessee] the most forward thinking and pro-business state for cryptocurrency and blockchain and to foster a positive economic environment for blockchain and cryptocurrency,” per the bill text. The proposed committee would meet at least once a month and be composed of the commissioner of commerce and insurance or their designee; the commissioner of financial institutions or their designee; one representative with experience or knowledge in cryptocurrency, from an academic institution, designated by the chair; one representative from a financial institution, assigned by the speaker of the house of representatives; and one representative with experience in federal securities laws, designated by the speaker of the senate. House Bill 2643 was assigned to the Business and Utilities Subcommittee on Tuesday for further consideration. ————————————————————————- Like| Comment| Follow| share Are you into CRYPTO | NFT | TECHNOLOGY? Follow @cryptoworldpage Get daily cryptocurrency news updates Any questions | Comment below ⬇️ OR slide in our DM ————————————————————————- #cryptoworldpage #cryptocurrency #crypto #cryptoworldwide #btcnews #altcoinnews #tennesseelife #democrat #blockchaintechnology #tennesee #blockchainnews #cryptonewsdaily #jasonpowell #cryptoinfo #democrats #cryptonews24 #cryptonews #cryptoinvestor #cryptoworld (at Tennessee) https://www.instagram.com/p/CZyYuLZowZq/?utm_medium=tumblr