Tesla may have made more money from bitcoin than from selling cars

In early February, musk announced that Tesla had bought $1.5 billion worth of bitcoin. In addition, they also announced that they would accept bitcoin as a payment method in the future, which caused a sensation. The entry of Tesla also made the price of bitcoin soar again, breaking through the $50000 mark for the first time today. But at the same time, it has brought some impressive profits to the electric car maker. Tesla bought $1.5 billion worth of bitcoin in January, but the company has not disclosed how many bitcoins it bought for $1.5 billion. But we can calculate. In January, bitcoin traded between $29333 and $3720. A $1.5 billion purchase could buy Tesla between 37020 and 51137 bitcoin. If you take the middle value, it’s 44079 bitcoins. Based on these circumstances, based on the current bitcoin price of $48450, the value analysis of Tesla’s bitcoin holdings is as follows. In contrast, Tesla made a profit for the first time in fiscal year 2020, with a profit of $721 million. This is the first profit after a loss of $862 million in fy2019. Until fiscal year 2020, Tesla reported only a few quarters of profits. Given Tesla’s net losses over the years, Tesla is likely to make more profit from a single $1.5 billion bitcoin purchase than it has made from cars in the past decade.

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