Cryptocurrency News

Tesla’s Bitcoin Investment is 30% more profitable than Car sales of last year

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.

Share
Published by

Recent Posts

Tomarket App – A Guide to $TOMATO Airdrop, Farming and Web 3.0 Drop Event

Tomarket, Telegram's mini-app hits 20+ million all-time users and 8.8+ million daily active users. Tomarket…

2 months ago

Binance Lists Decentralized and Open L1 Blockchain Toncoin (TON) on its Platform

Cryptocurrency exchange Binance, today announces the listing of Toncoin on its platform. Toncoin is a…

3 months ago

iGaming Platform BC.GAME Signs $40 Million Deal to Become Principal Partner of Leicester City

The iGaming platform BC.GAME has signed a landmark $40 million deal to become the "Official…

4 months ago

Coinbase faces new lawsuit that claims SOL, MATIC, NEAR, MANA, ALGO, UNI, XTZ and XLM are securities

Coinbase crypto exchange and its CEO, Brian Armstrong, faces a new lawsuit that claims Solana,…

6 months ago

Service Beyond Gaming: The Support Experience at HugeWin

In the world of online gambling, the quality of customer service can make or break…

7 months ago

Bitcoin (BTC) Cycle: Aiming for $155,000 Peak by August 2025

Since its launch in 2009 Bitcoin has experienced several cycles characterized by bull and bear…

7 months ago

This website uses cookies.