2021-03-24 21:48:23
Tesla’s return on his Bitcoin investment is now equal to multiplying its daily profit from selling cars by 1300%.
As reported by CHK, on February 9, Tesla shook the entire crypto market by announcing that it had invested $ 1.5 billion in cash in Bitcoin. Not stopping there, the world’s leading electric car maker also mentioned the possibility of accepting Bitcoin as a payment method for its products in the future.
Although Tesla does not announce the specific amount of BTC it is holding, based on information it bought Bitcoin in mid-January – when BTC went up and down between $ 29,000 and $ 37,000 – investment 1, The company’s $ 5 billion is estimated to reach 48,000 BTC.
As of today (March 19), ie just 38 days After the announcement of the BTC purchase, Tesla’s Bitcoin value is now $ 2.5 billion – a $ 1 billion increase over his original investment, according to statistics by BitcoinTreasuries. This means that the company has made up to $ 26 million per day for over a month from depositing money in BTC.
Meanwhile, according to preliminary reports, Tesla’s revenue from its auto business in 2020 is $ 31.54 billion, with a profit of $ 721 million – equivalent to $ 1.98 million per day. . Comparing the two numbers above, it can be seen that the daily return on Tesla’s Bitcoin investment is up to 1313% of the profit from the sale of the car.
Tesla isn’t the only company reaping the rewards of BTC’s current bull market. The other big players that put their money into Bitcoin in the late 2020 and early 2021 period such as MicroStrategy, Ruffer Investments, Grayscale, Square, … are all recording profits from 2x to nearly 8x their initial investment.
CHK aggregated
Maybe you are interested:
#Teslas #Bitcoin #investment #returns #outweigh #profits #selling #cars
