Bitcoin Forum

Two months ago, Tesla announced that it accepts Bitcoin payments and since that time I haven't seen any analysis showing the number of successful transactions that have taken place or any story of a person buying a car using bitcoin.
Does anyone know how much coins Tesla got from accepting bitcoin?

They hasn't been any official report from them regarding the figures on their sales on bitcoin payments, but probably it's just small considering that bitcoin is still preferred as an asset rather than a form of payment given its tendency to appreciate in value in a small time-frame. I'm also curious since Tesla announced that they would no longer be accepting bitcoin payments on Tesla, and there must be a reason behind this considering that it may affect—and it actually did—their stock prices.

Tesla is actually all against Bitcoins now. If you did hear the recent new you would have seen where they banned the usage of cryptocurrencies in their company. Which was actually sad.
Here is a quote:

At the same time they have started putting the focus on dogecoin for sure. They are putting up polls and people are buying it literally hoarding. See it's not unreasonable but it's so sudden.
They won't actually release anything now. There is nothing that can be done but then again Bitcoins is going strong. We saw a dip but it was indeed not so worse.
The link to the article:  https://www.google.com/amp/s/www.independent.co.uk/life-style/gadgets-and-tech/elon-musk-bitcoin-crash-tesla-cryptocurrency-b1846650.html%3famp (https://www.google.com/amp/s/www.independent.co.uk/life-style/gadgets-and-tech/elon-musk-bitcoin-crash-tesla-cryptocurrency-b1846650.html%3famp)

Definitely they most have made some sales but, I think they were in the process of still analysing there sales reports and all while coming to terms to the fact that, they are actually accepting bitcoin as medium of payment amidst investment for them too. Now, its so unfortunate that, Tesla is having issues with bitcoin and as such, coming to the air to give an actual unbiased statement of bitcoin in relations to its sales would come with some critics they would want to avoid. Though, I think it definitely will be good as crypto patronising companies would want to guvenit a trier.

I hope you do know that just recently, I believe it's just some days ago, Tesla announced that it will no longer be accepting bitcoin for car purchases. No one knows the actual reason but I guess it's all part of Elon Musk's scheme to make dogecoin the superior coin. He has been clamouring for dogecoin.
Concerning the amount of bitcoin they were able to receive as payment for cars in the few months they accepted it, there has not been an official statement on that which means we don't know the actual amount.
I, however, do think it won't be a large figure. This is because many people consider bitcoin too expensive to be used as a currency to buy cars. Quite a lot people still believe bitcoin is still an investment asset

Historically the demand for tesla EVs has always been significantly greater than production & supply.

More consumers want tesla cars than their factories can produce.

They didn't need bitcoin support to boost sales demand. They had no trouble filling all available orders without crypto.

It all depends on how much of a rush they were in to take orders in BTC. Perhaps they expected the price of BTC to climb and wanted to hoard more.

Its all speculation unless official numbers are divulged in tesla's next earnings report.

It isn't really that important or needed? Actually these are personal informations that you can just able to know or can be seen on public places or in net because these are numbers
which Tesla itself could produce or show.

Now that tesla is holding out bitcoin payments or transactions due to environmental issues and this proves out that anything could changed out in a snap.

When issues been raised up then expect that there would be specific steps or changes would be made.

They wouldn't post it publicly but there must be someone out there who used bitcoin to buy a Tesla car. People like to show off their success through the things they own like cars. If he accepts dogecoin soon which I guess more people owns dogecoin, there could be more tesla cars running on streets in several months. But we will never see any information on how much doge Tesla earned from the car sales.

There's no such data that they've disclosed about how much they've earned and received when they were still accepting bitcoins for their cars. But that's a good information and comparison if they're going to release any info or hint of how much they've made.

If ever they've received already and there were purchases that has been done, I think that they've already sold it and was planned properly by Elon before the announcement.

Probably not much, perhaps none at all. I believe the first purchase of a Tesla using Bitcoin as payment would definitely hit the news, but there was no news at all, so there's probably none at all. There might have been an order, which was already probably cancelled since the announcement that Bitcoin is not anymore accepted by Tesla.

But not a big deal really on the part of Tesla. As Hydrogen mentioned, the demand is higher than the production, resulting even to a long list of backend orders. After all, Tesla has the monopoly of EVs.

It is all hype and marketing mumbo jumbo, so I would not take this very seriously. In any way, how many Crypto currency enthusiasts will want to use that huge amount of coins to buy a Tesla? Also, why would someone suddenly convert their Fiat cash into Bitcoin to buy a Tesla? Yes, they might do that if Tesla gave some incentive like a discount for people using bitcoins, but they did not do that.  ::)

Elon Musk only did this to tap some publicity and to pump the price, after he and Tesla bought some bitcoins... giving him a quick couple of millions in profit for the company.  :P

They never disclose the number but I think the number is gonna be very small and now he's against it, maybe this whole tesla accepting btc as payment method drama is just for getting publication and now he's switching over to doge and I also guess not much of people gonna buy tesla with doge as well. Not to mention crypto payment only limited to the US i think? (cmiiw).
If some people truly want to buy tesla they gonna prefer to do it using fiat money so there won't any problem at all on the way of buying the car, not really a big deal even if tesla stop accepting btc.

It wouldn't be posted but we hope that they are going to see it still. Also if they were to show it to us, they might inflate the prices to make it look like there was a lot of bitcoin's that was used to pay for their cars.

Spot on. This is exactly what was going on in my mind. I guess some people ended up purchasing Tesla cars with BTC which is simply an added bonus for him since the pump and dump was his major focus basically.

He manipulated the market very smartly and earned huge amounts. He probably won't be able to repeat this again in the future, but his net worth definitely increased.

I don’t think their transactions with Bitcoins push though, they didn't provide any numbers as well.  It was only two months since they accepted the payment method but the point of sale for the latest model from Tesla would take at least 1-3 months to process.  Well, it might they now knew how complex it is to accept Bitcoins as a payment method in the back end of the accounting.

If in case that some transactions pushed through, I don’t think that they already have it accounted for on their accounts.  Probably for the 2 months, I think it won't be more than 10 vehicles sold and surely only local clients were able to secure transactions but we will never know.  Especially with the influence, he made from the community.

I think the best thing here is that, regardless of Elon Musk being aboard, we still have a lot of things on our deck and Mark Zuckerberg is still there, as well.
 
Let’s just for the things to happen soon!

That is both a success story from Tesla obviously but also a bit about how they are relatively a new place that doesn't have manufacturing all over the world. For example 4 different car manufacturers who are all foreigners have their manufacturing places in my nation, all because there are 100k+ cars sold here per year which means if they manufacture it on their native nation and send it here that would be very difficult, they would have to ramp up the production by a ton, instead they just started one here, build it here and sell it here, or even nearby nations to my nation.

Tesla has very limited amount of manufacturing places, eventually it will be a lot of places, and those places will get even faster and bigger, at that point it will be like any other place. Plus cars are expensive to manufacture, so most places do not just make a million and wait for it to be sold, they calculate the requests and manufacture accordingly as well, rarely ever excess amount left.

It also prompts me to ask, whether they actually wanted to sell some cars through Bitcoins or just wanted to create a hype in the market and pump the price. Tesla must have exercised their own research when they decided to accept Bitcoins as a payment method and withdrawing the move now only makes me feel like they only wanted to hype the price and announced it.

Another thing that is confusing is how accepting bitcoins for Tesla cars' payment helps because one can almost immediately buy and sell Bitcoins at any exchange and pay the price for the car they need. If I have money and I need a Tesla car, it doesn't matter if Bitcoins are accepted or not I can always exchange and pay them in whatever coin they want lmao.

I don't understand the fantasy of buying a car with BTC. You need to still pay the taxes and shit and you still are doing it 100% legally then why is there a fantasy to buy a car in BTC and if one company takes back their decision of BTC payments how should it matter to a common trader at all.

Big games are being played behind the scenes and the news and tweets and everything are made to make people react in a particular manner. Imagine how cool it would be to short Bitcoins and make a tweet like that which would crash the market and you just earn free money.

Short BTC at 55k --> make a tweet we are abandoning BTC --> Market Crashes --> Easy money!

I don't think that Tesla will bring their earnings from selling cars with the payment of bitcoin, they wouldn't do that because they now do not accept bitcoin for payment so there is no need for the public to see it and that earnings would be private for them, but for sure there are some people who bought their car using bitcoin, maybe they are not here in the forum but for sure there is. Maybe in the next few months, we may have the news that Tesla is now accepting Dogecoin as the means of payment that is the alternative cryptocurrency that we can predict as Elon Musk has told it and if that would happen they might show their earnings from Dogecoin.

Probably one, which also bought by the Elon Musk himself. :D

Don't know how many cars they sold in the 2 months period and I am damn sure that almost 99.99% of them not paid via Bitcoin.

Strategies to make people fool and still its working on these dump people

The Musk hype needs to stop now. One day they are promoting Dogecoin and the next day they start allowing bitcoin payments for their products and finally say that Bitcoin mining is not energy efficient and then watching the same market crash.

From the bitcoin supporters point of view, this is a roller coaster ride. Most would start to call Musk bad for doing this organized pump and dump.

As a trader, these are opportunities though. If you would have followed Musk and sold when he said to pump, you would be in a profit already. I think this is what people should do. Since the next big step in crypto would be the government gradually allowing bitcoin to be traded, before that make sure your stock of bitcoin is a one to boast of. That is also what Musk is doing.

I think a major reason for people not disclosing they have bought any Tesla using Bitcoin is they don't want to make the world know they hold a significant amount of coins because only a person with good holding of crypto can purchase a Tesla using it and given the dynamic laws regarding crypto in the world, anyone would be scared to disclose it ;D but I am quite of the opinion that many have used crypto for buying Tesla or using their products and services :)

I think few people buy Tesla electric cars with Bitcoin because in three months surely Tesla will only make a small amount of money.
Many Bitcoin owners don't buy cars with Bitcoin and don't buy Tesla cars.
Tesla's electric car product is just one of the hundreds of car options

We can say that Musk is a very skillful hype creator! He has many followers and looks like every move he makes creates a lot of dust around! I agree that we should stop talking about him and his actions because I am starting to think that he is doing everything just to promote himself, and of course to earn a lot of money. Just a few days ago I said he is a hypocrite, your words reminded me of that, in my opinion, he is doing organized pump and dumps, and on another side, he is acting like a nice guy! Can't be both! I just said it with different words!

A celeb always covers up what they are doing in the background. Point is that they have a cult following which is always a bad thing in a democracy. They can use their influence to play with people and their money and this is what I do not like. Social media influencers and spiritual "gurus" are also doing a similar brainwashing to make people do what they want to do.

You can never calculate the amount of bitcoins someone bought because it is pseudo-anonymous. I doubt they were in it for developing the tech or boosting the price organically.

What I said previously in some of my posts, when other celebs promoted coins still holds true : Celebs have ulterior motives usually profit. Some of them have ended up in jail.

I didn't know that they sell other things besides cars, what are these things that you say are being sold by Tesla? I do have the same hunch that not a lot of people have bought Tesla using bitcoin and if that were true, that might be one of the reason why they suspended the option of buying a car using bitcoin.

Probably close to zero.Spending Bitcoins during a bull market was a dumb move.Nobody is that stupid.
I actually doubt that Tesla allowed BTC payments for their cars.This was just an idea,that was used to pump the Bitcoin price.I'm not sure that Elon Musk was sincere about accepting BTC payments.
Maybe it was just a pump&dump,organized by Musk,or maybe the government told him to cancel this idea,because Tesla might not get any regulatory credits.

I believe there won't be any figures given.  I think it's just an added boost to Tesla's stock price growth after a disastrous slide.  While, it's encouraging and exhilarating, I don't think Tesla is ever going to get any bitcoins, and the fact that Tesla stopped accepting bitcoins is proof of that failure.  Even Elon admits to selling off his bitcoins, which says it all is a well-intentioned conspiracy.

there are early companies that accept bitcoin but i havent seen them release a data . i guess its more of a private thing ? but  for the people that buys a car using btc , they are only humble to not brag .
 we dont know how much btc telsla have unless if they will show it to us but my guess is they have less btc because btc value is too expensive and last time you only need 1 btc to buy a tesla and it wasnt too long after tesla accept btc but they cancel it .

Actually, it's not quite private. All publicly traded companies are required to file a financial report to the SEC. As of now, they presented the data regarding earnings and losses through sales of Bitcoin.
Source: https://www.sec.gov/Archives/edgar/data/1318605/000095017021000046/tsla-20210331.htm#financial_statements

However, I didn't find any data regarding car purchases in BTC, but it isn't private, that's for sure. They can't share the private data (e.g. names, addresses) of the customers, but the general info in numbers must be there somewhere.

Note that if what you say is true, Elon Musk must have violated some SEC rules about market manipulation, since I believe they classify bitcoin as an asset.  If Musk really did do all of this (the hyping, the buying, and then the selling), then I can't see how that's any different than doing the same thing in the stock market.  Makes me wonder if anyone in the government is paying attention to this situation.

Now as far as how many cars Tesla sold for bitcoin, it's surprising that they wouldn't release those numbers anywhere--I'd think that that information would be at least part of their annual report, though I don't know if that's been published yet.  Are there any Tesla stock nuts here who might have read their filings?  That's where the answer to this question would lie if Musk didn't blab it to the media, and apparently he didn't.

Edit:
Oh Jesus, I should have read the entire last page of this thread as I just noticed your post.  You beat me to it, and sorry to rewrite basically what you wrote.

Elon Musk fooled a lot of Bitcoin users. When he first stated that Tesla would accept Bitcoin, there was a lot of hype (even here, in this forum) and a number of people were saying that they would purchase Tesla with their coins. But once the hype settled down and he received the initial orders, Elon changed his stance. Those who gave orders for Tesla, to show their support feel cheated. But this is how business works. The lesson here is to think twice before spending any of your hard earned coins.

Read this : https://www.investopedia.com/news/sec-chair-says-bitcoin-not-security/ - article is kept updated.

Did not find anything else in the search, I take investopedia to be a decent source for getting educational information for newbie traders so we have to go with the above for now.

Makes the whole ball game different when we talk about stocks. I dont think SEC is going to turn a blind eye to all the attention. Of course they will investigate but whether they will take action or not is a different thing.

Reasons why even influential people manipulate the stock market at a much lesser degree.

Crypto and its tax filings are another grey area. Lack of regulation makes it even more a possibility that they will not show it completely. Of course the company owns a lot of money and hence they can use their money to bribe officials. Nothing new to this.

Bottom line remains same, do not blindly follow celebs. They will lead you to a trap and take your money.

That's possible to expect some annual report about their income, but I am not sure if they would make it public to people. But in the other side if there are only one public wallet which they got bitcoin deposits I think we could manage to find it with proper research, I dont think somebody of us bought tesla throught their website if so they maybe would share their bitcoin public address, so we could have more information how much tokens they gained through that period when thye started accepting

There has been no official report from the Tesla company regarding transactions using bitcoin, it seems that there are still few people who make purchase transactions using bitcoin maybe because most people become bitcoin as an investment, and to make transactions most people prefer to use fiat money rather than bitcoin,

Doubt it's still few people because they just refused to accept btc anymore, and instead accepting doge.
I think the fact that they haven't published any report so far means the numbers of people who made purchase is actually quite low it's not worth the publication
Same thing happened to when they start accepting doge, no report so far until now, tbh I doubt the number even reaches 3 people a month, it's gonna be a lot lower than that.

I don't think they publicized their earnings in bitcoin since they are aware how much it can affect their company. Another reason could also be because Elon Musk later on removed it as a mode of payment and said that his main reason was because it was consuming too much fossil fuel. Lots of people weren't confused about his reason due to the fact that his company was already making too much damage from space explorations and experimentations of the cars. Now, many people are not being reliant on Elon's suggestion and the powers of his tweets are gone.

This statement is declarative, because you can't ban something that wasn't used as payment for a Tesla anyway. Elon Musk's tweet in which he said that Tesla can be bought for BTC was aimed primarily at hype around Tesla, which he owns. If there was at least one such sale of a car for BTC, Musk would definitely tell his subscribers about it.

I think it will be just a small portion for the reason that many people will mostly prefer to keep their Bitcoin into possession because of its high potential to increase its value in a long run, in short people would prefer to use it as an asset rather than buying it with Bitcoin wherein they can just have bought it through fiat money. Maybe there will be some people that have clicked into the trend of Tesla allowing Bitcoin as a mode of payment but preferably people would choose cash than crypto having much more worth if you would just hold it rather than spending it for purchasing of cars.

They will not its private matters and they will provably not show theie address contain their assets also I didn't see any articles which state their all balance so I believe tjwy are truly hiding it at the public so that people doesn't have any basis to know if they are manipulating or not. Maybe its best for us to stop looking at this company as a basis since they are already expose that they are not helping bitcoins after all.

Probably not a lot or just right because it's not like everyone wants to buy their Tesla with a bitcoin that could possibly go up in value meaning that they might be overpaying for it or something. Also, it's none of our business how many bitcoins did they earn from selling Tesla.

We will never know the number of cars sold for Bitcoin. Such a huge companies does not share that kind of statistics usually. We can only know total amount of cars sold per year. Also, I dont think that a lot of car were even sold for Bitcoin. An option to buy Tesla with Bitcoin was just a strategic move do get more attention to Tesla inc. This is just marketing and Bitcoin was just an instrument in it. Just take a look for example how tesla.com (https://www.alexa.com/siteinfo/tesla.com) popularity changes when Elon Musk announce something connected with Bitcoin and Tesla.

I highly doubt that they sold more cars than you could count on the fingers of one hand. It's pretty doubtful that Elon Musk was genuinely interested in receiving Bitcoin as a payment method, to me, it just looked like he simply wanted publicity and was also one of his ways to manipulate the market, suspecting that such incident would potentially spike prices.