Tesla Profits Higher For Bitcoin Than 2020 Car Sales
This is pretty strong; Tesla showing higher profits with their Bitcoin purchase as opposed to their car sales for 2020:
Tesla Has Already Profited More From $1.5 Billion Bitcoin Buy Than 2020 Car Sales: Wedbush
Elon Musk’s electric car company is poised to profit more from its Bitcoin investment made in January than from all of its car sales in the entirety of 2020, according to a note from U.S. research firm Wedbush Securities.
Tesla disclosed earlier this month that it bought $1.5 billion worth of Bitcoin in January. Following Tesla’s disclosure, Bitcoin’s price shot up like one of the rockets from Musk’s other venture, SpaceX. Moments after the news broke, Bitcoin’s price jumped by 8.5%.
And Bitcoin has kept rising: 12 days later, Bitcoin has broken $57,000, securing a market cap just north of $1 trillion.