Tesla's big Bitcoin investment has currently made them over $1 billion

It's more money then they have ever made selling cars

3w ago

Earlier this year Tesla invested around $1.5 billion into Bitcoin and so far it is paying off. Tesla bought it in January when Bitcoin was worth under $40,000. At the time of writing the value of Bitcoin is at $61,789. This is more than the $721 million they made selling carbon credits in 2020(cars have never made a profit for them). 2020 is the only year so far where Tesla were in the green so that means Bitcoin has made Tesla more money than cars.

Problem is that the Bitcoin price is very volatile and the only reason it is worth so much is because of Elon Musk's tweets about it. Those tweets are starting to lose their power over time and crypto analysists have warned about a 'crypto winter' where the prices of cryptocurrencies drop by 90% and don't pick up again for several years. The question is will Elon Musk cash out at the right time?

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Comments (15)

  • I am waiting for someone to hack into bitcoin and ruin these billionaires lives

      25 days ago
  • Imagine if Elon forgets the passcode 😂😂😂

      25 days ago
    • Oh that would be funny!

        25 days ago
    • Yes...yes it would. But seriously, imagine losing 1.5 billion because you forgot a password

        25 days ago
  • Noooo😫😫

      25 days ago