Tesla is estimated to have made more profit from its January investment in Bitcoin than it did from selling electric vehicles in the entire past year: yesterday the value of the cryptocurrency exceeded $ 55 thousand If we assume that the manufacturer of electric cars now has as many bitcoins as on January 31, then Tesla has already made a profit of about $ 930 million from the growth of the cryptocurrency rate, which is more than its profit for the entire 2020, which amounted to $ 721 million.
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This month Tesla announced, which in January invested $ 1.5 billion in Bitcoin, but did not say how many bitcoins were acquired and whether she continues to keep them. In any case, Tesla treats cryptocurrency as an intangible asset with an indefinite lifetime. At the same time, the company will have to disclose the profit from the growth of the bitcoin rate only in the case of the sale of cryptocurrency reserves.
It’s worth recalling that EV sales were not formally Tesla’s main source of revenue last year. The company would have made much less profit if I didn’t sell environmental quotas hundreds of millions of dollars to other auto companies every quarter. Fossil fuel car makers buy these allowances to meet government-set emission targets.
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Last week, Tesla CEO Elon Musk, said: “Having some bitcoin, which is simply a less stupid form of liquidity than cash, is a pretty bold move for a listed company. S&P 500. To make it clear: I am not an investor, I am an engineer. I don’t even own any public shares other than Tesla… However, when fiat currency has negative real interest, only a fool would not look elsewhere. Bitcoin is almost as bullshit as fiat money. The key word is “almost.”
By the way, herself purchase bitcoins worth $ 1.5 billion by such a large company as Tesla has become one of the factors in the growth of confidence in the cryptocurrency and, accordingly, its rate to a record level. And the recent mentioning The masked cryptocurrency Dogecoin on Twitter also pushed up the price of the latter.
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Tesla is the second-largest publicly traded company in terms of the amount of bitcoin in its portfolio. The leader remains MicroStrategy, which acquired 71,079 bitcoins. The largest holder of this cryptocurrency among organizations is the Grayscale Bitcoin Trust, with 649,130 bitcoins in its assets.
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