Tesla earns $ 64 million in bitcoin, how much is Elon Musk left?

No, Bitcoin hasn’t ruined Tesla – In a cryptocurrency market more than feverish after the disasters of Land (MOON) e Three capital arrows (3AC), the new sale of almostone billion dollars in bitcoin from You are here it was not without giving white hair to some. Yet the premium electric vehicle company ofElon Musk he didn’t lose money with his bitcoin bet, he even did some profit !

Tesla bitcoins were sold slightly more expensive than when they were bought

Although the critics of Bitcoin and the cryptosphere no doubt hoped that the announcement of the massive sale from BTC from You are here it would have caused another steep drop in prices, but nothing happened.

Yes, whyElon Muskits CEO and founder, quickly explained that this money choice was not made against the king of cryptocurrencies, but in a worry to the China whose Covid borders drag on. A need for liquidityas a precaution, at least officially.

Then it turns out too in numbers that this bitcoin resale happened this way thoughtful, without haste or panic. In its detailed quarterly report, filed with the SEC, Tesla reveals that it has registered “Earnings of 64 million dollars” on these conversions of bitcoin into fiat currency, carried out during the first half of 2022. Implying that the company has been reselling globally to a Best price its bitcoins purchased earlier its statement filed in February 2021.

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Still 25% of the bitcoins in stock for Elon Musk

On 1.5 billion dollars of bitcoin that Tesla had acquired, remember that the company had it has already sold part of it in April 2021. This first sale of BTC, amounting to 272 million dollars, had then led to profit of 101 million dollars to Tesla.

Even if it still has it 25% of its BTC, the company of Elon Musk therefore already has recovered for a little longer 1.2 billion dollars on his initial Bitcoin investment. According to Tesla’s latest quarterly statement, he’s stayed for “$ 222 million in digital assets” to the company, at the market price of 30 June 2022.

This would represent approximately 10,800 BTC, still present in the accounts of the electric vehicle manufacturer. That’s about $ 227 million today. On the fact that Tesla will do it to redeem Where is it keep selling bitcoin in the coming months, we won’t have any no reply :

“(…) we may increase or decrease our availability of digital resources at any time, depending on business needs and our view of market conditions and the environment [macro-économique]. “

Excerpt from Tesla’s quarterly report to the SEC

Tesla finds himself swinging Between meager earnings Where is it meager losses (for such a multinational) on its Bitcoin bet. At least, at the moment. If Elon Musk and his company stay optimistic for the future of the cryptocurrency king, remember that Tesla has bet big to help createa giant BTC solar mining park in Texas, in collaboration with Blockstream And to block (formerly Piazza).

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