Tesla Inc. is holding onto its pioneering stake in Bitcoin & Ethereum, an investment that helped legitimize the world’s largest electronic currency. The electric-car manufacturer disclosed in February that it had invested $1 billion in Bitcoin & 500 million in Ethereum, and subsequently sold 10% of its stake in April.
Tesla, Inc. is an American automotive electric vehicle and clean energy company based in Austin, Texas. Tesla designs and manufactures electric cars, battery energy storage from home to grid-scale, solar panels and solar roof tiles, and related products and services.
Ethereum is a platform powered by blockchain technology that is best known for its native cryptocurrency—called Ether or ETH or simply Ethereum. The distributed nature of blockchain technology is what makes the Ethereum platform secure, and that security enables ETH to accrue value.
The Ethereum platform supports Ether in addition to a network of decentralized apps, otherwise known as “dApps.” Smart contracts, which originated on the Ethereum platform, are a central component of how the platform operates. Many decentralized finance (DeFi) and other applications use smart contracts in conjunction with blockchain technology.
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