Tesla made $1B profit on its Bitcoin buy, says analyst
Tesla is about to make more money from its Bitcoin investments than profits from selling its electric vehicle cars in all of 2020, an analyst at Wedbush Securities said. American electric car giant Tesla has seen some massive gains from its Bitcoin (BTC) investment, reportedly having made up to $1 billion in profit, according to a new report.An analyst at Wedbush Securities, a private investment firm in the United States, has calculated that Tesla has made “roughly $1 billion” in the aftermath of its $1.5 billion Bitcoin investment. Daniel Ives estimated Tesla’s Bitcoin profits in an....
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Tesla's Bitcoin stash is now worth $1 billion more than when Elon Musk approved the purchase in February. Tesla's (TSLA) bold foray into the Bitcoin (BTC) market has been paying off in 2021 as BTC price rallies in October to hit over $58,000 on Oct.14.Tesla currently holds roughly 43,200 BTC, worth roughly $2.5 billion at today's prices, according to online monitoring resource Bitcointreasuries.net. This is approximately 65% or $1 billion more than what the carmaker paid in February when Elon Musk's company revealed that it added $1.5 billion in BTC to its balance sheet.BTC/USD daily price....
Tesla’s unrealized profit from “hodling” Bitcoin could be the equivalent of upscaling the company’s daily car sales by over 860%. It has been 37 days since Tesla announced its $1.5 billion Bitcoin (BTC) purchase in a filing document with the United States Securities and Exchange Commission.While the exact BTC purchase size was not revealed in the document, with Bitcoin trading between $29,000 and $37,000 in January, Tesla’s $1.5 billion outlay could mean the company holds at least 40,000 BTC.Based on these speculative figures and the Bitcoin price increase since the end of January, Tesla’s....
Despite taking a reported $272 million in profit, Tesla still seemingly retains a majority of its original bitcoin stack.
Tesla stock began to slide in late January, accelerating after the BTC purchase announcement. Tesla CEO Elon Musk has lost his crown as the world’s richest man following a sharp correction in Bitcoin and a slump in his company’s stock that some analysts believe are correlated. Tesla stock (TSLA) has dropped 21% from its high of $890 on January 26, accelerating those losses over the past two days in a fall to $698. Shares of the electric vehicle maker dipped as much as 13% on Tuesday, Feb. 23, the stock’s worst day since early September.Fox Business has blamed this week's stock drop on the....
Tesla stock has dipped 14% since Elon Musk appeared on SNL, with Musk estimated to have lost $20 billion in that time frame. Elon Musk has reportedly lost $20 billion since his May 8 appearance on Saturday Night live, as the news of Tesla halting BTC payments for cars continues to send shockwaves across markets. On May 7, the day before Musk made his appearance on SNL, Tesla stock was sitting at $669. In the week since the stock has declined 14% to sit around $573. According to Forbes estimates, this sudden drop has seen Musk’s $166 billion net worth plunge by $20 billion down to around....