Tesla earned more from bitcoins than from sales of electric cars for the entire last year

Tesla representatives said on January 31 that the company had invested in the main cryptocurrency, buying $1.5 billion in bitcoins. Several weeks have passed – and it’s time to calculate the profit.

How many? Many!
The calculations were taken up by The Times. So, after the news of the big purchase, the price of bitcoin increased by 13%, exceeding $ 44,700. Now the rate has already passed over 57 thousand and is stubbornly approaching the mark of 58 thousand.

If Tesla owns the same amount of bitcoins that it bought on January 31, then in just a few weeks the company has already earned $ 930 million. For comparison, for the entire last year, revenue from the sale of electric cars amounted to “only” 721 million.

Of course, these earnings are only on paper, since the company, as far as is known, has not yet sold its bitcoins.

By the way, the other day the head of Tesla and SpaceX, Elon Musk, wrote on social networks that the cost of bitcoin and ethereum seems to him too high. Although someone may be outraged, it is definitely not Musk, whose company only manages to calculate the profit from the growth of the digital currency rate.

Author: John Kessler
Graduated From the Massachusetts Institute of Technology. Previously, worked in various little-known media. Currently is an editor and developer of Free News.
Function: Director
E-mail: except.freenews@gmail.com