Tesla's $ 1.5 billion investment at the end of January in Bitcoin made $ 930 million, 30 percent higher than car sales for the entire 2020 period.
On February 8, Tesla filed with the US Stock Exchange (SEC) announcing its purchase of $ 1.5 billion in Bitcoin. This investment was started in January. According to analyst Alex Barredo, Bitcoin's average price at the time was $ 34,893, Tesla could own more than 42,000 cryptocurrencies. On February 20, Bitcoin peaked at $ 55,000.
According to Times of London calculations, Tesla's $ 1.5 billion investment not only caught the attention but also made the company more profitable than last year's car sales. If the difference between the price of Bitcoin from January 31 to the present, Tesla has generated $ 930 million, nearly 30% higher than the revenue of $ 721 million from electric cars.
CoinDesk data shows that Bitcoin's value has increased by about 546% per year. This makes investors argue about the virtual currency bubble. Many analysts consider this property to be worthless. But just a tweet of support from the CEO of Tesla, the virtual currency rises again. "Having a little bit of Bitcoin is simply a form of liquidity smarter than cash. The risk is just enough for a company with a large market capitalization," Musk wrote on Twitter on Feb. 18. Not just Bitcoin, Tesla shares jumped 2% after the company announced an investment of $ 1.5 billion.
In 2017, Jamie Dimon - CEO of JPMorgan Chase - America's largest commercial bank called Bitcoin a "scam". But earlier this year, the bank predicted that Bitcoin price could still rise to $ 146,000 and compete with gold in the future. According to WSJ, BNY Mellon, America's oldest bank, also started participating in Bitcoin.
"If you are the CEO of the company and are thinking about adding Bitcoin to your balance sheet, you still have a chance, but not long," said billionaire Tyler Winklevoss, co-founder of the exchange. cryptocurrency trading Gemini writes on Twitter.
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