Tesla Will Get More Profit From Bitcoins Than From the Sale of Electric Cars
Analysis of the potential profit from Bitcoins recently bought by Tesla has shown that the electric car manufacturer can only make the same profit if sales increase by 860%
Tesla bought a batch of Bitcoins for $1.5 billion. The purchase was made 37 days. Although the exact amount of the purchased cryptocurrency is not named, but at the time of purchase the price of BTC was 29-37,000 dollars. Therefore, with the most modest calculations, Tesla has 40,000 BTC.
Due to the increase in the value of the cryptocurrency, the value of Tesla's Bitcoins now exceeds $2.2 billion.
Last year, car sales brought Tesla a net profit of $721 million. This means that the daily profit from the sale of 1,368 cars was $1.98 million.
Thus, according to the most modest indicators, the profit from Bitcoins for 37 days is equal to the annual profit from the sale of electric cars. To achieve the same result, the company needs to increase the production and sales of cars by 860%.
As the price of the BTC cryptocurrency will rise, Tesla's profits from the holding of Bitcoins will still bring the company more profit.