Tesla holds Bitcoin or makes more money than selling cars

Tesla holds Bitcoin or makes more money than selling cars

18/3/2021

Cointelegraph published an article that it has been 37 days since Tesla announced the purchase of Bitcoin for $1.5 billion. Although the specific size of the purchase was not disclosed, the transaction price of Bitcoin in January this year was between US$29,000 and US$37,000. Tesla’s US$1.5 billion expenditure may mean that the company holds at least 40,000 Bitcoin. Tesla’s at least 40,000 bitcoins are currently worth $2.2 billion, and this figure can be converted into an unrealized profit of $700 million. Therefore, since the announcement of the purchase of Bitcoin, Tesla's daily unrealized profit has been nearly $19 million. In 2020, Tesla's daily car sales will be approximately 1,368 vehicles, with a daily profit of $1.98 million. Therefore, Tesla's holdings of Bitcoin may make more money than selling cars.


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