Tesla, the electric car manufacturers Bitcoin investment seems more profitable than its total car sales profit for the year 2020. As Tesla recently reported in an SEC filing that it has made an investment of $1.5 billion in Bitcoin. This Bitcoin investment was disclosed on February 8th.
Now as Tesla invests $1.5 billion in Bitcoin and keeping the holding the same size, it will reportedly make a profit of around $930 million according to the Times of London. However, if we look at the profit from car sales in 2020 then its $721 million.
So, it seems that Tesla’s have made 30% more profit in Bitcoin investment than its car sales profit last year. The profit might also increase as the cryptocurrency market is currently surging.
Yesterday, Bitcoin total market capitalization surpasses $1 trillion and BTC also made its new ATH. At press time the total market capitalization of Bitcoin is $1.08 trillion and the price of BTC is $58186 USD. At press time the new ATH of Bitcoin is $58186 USD.
Also, the market dominance of BTC in the whole cryptocurrency market is 61.5%. The 24h high and low for BTC is $58,267 and $54,626 respectively.
Now all the crypto eyes are watching for the next institutional investment.
Cameron Winklevoss, the founder of Gemini cryptocurrency exchange tweeted, “If you are a company CEO and thinking about adding Bitcoin to your balance sheet you still have the opportunity to be an early adopter. But not for long.
Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.