Image default
Greek News

Elon Musk makes more profit from bitcoin than Tesla sales

Tesla has made roughly $1 billion in paper profits from its investment into bitcoin, according to Daniel Ives, an analyst at Wedbush Securities.

The company is “on a trajectory to make more from its Bitcoin investments than profits from selling its EV (electric vehicle) cars in all of 2020,” Ives estimated in a note published Saturday.

Earlier this month, the U.S. electric carmaker disclosed in a Securities and Exchange Commission filing that it had bought $1.5 billion worth of bitcoin for “more flexibility to further diversify and maximize returns on our cash.”

The purchase was made some time in January, the company said without disclosing when or at what price it bought bitcoin for. It’s unclear if Tesla has sold any of the bitcoin yet.

Bitcoin has seen a huge rally this year, touching fresh record highs regularly. Bitcoin’s market value topped $1 trillion for the first time last week, and the cryptocurrency is up 94% year-to-date.

source cnbc.com

also read

TUI Austria: Greece the most popular destination for summer 2021

 

Σχετικα αρθρα

Visit of Prime Minister Kyriakos Mitsotakis to TeamViewer in Ioannina

admin

Where the Rich Park Their Money (infographic)

admin

Pandemic-Fueled Bicycle Boom Coasts Into 2021 (infographic)

admin

Norway not ready to let go of oil, gas in push for greener energy

admin

Greek exports to Saudi Arabia up by 107%

admin

Where Investors Earned The Most From Bitcoin In 2020 (infographic)

admin

Greece: The application that shows the zone prices for each property is now available

admin

Greek economy: The book of offers for the new 10-year bond has opened

admin

Greece: Huge subsidy for the acquisition of electric taxis

admin

Global Corporation Tax Levels In Perspective (infographic)

admin

To the Moon! And Back? (infographic)

admin

Fair market value up by 40% on property prices

admin