The company is "on a trajectory to make more from its Bitcoin investments than profits from selling its EV cars in all of 2020," Ives estimated in a note published Saturday.
Earlier this month, the U.S. electric carmaker disclosed in a Securities and Exchange Commission filing that it hadfor "more flexibility to further diversify and maximize returns on our cash." The purchase was made some time in January, the company said without disclosing when or at what price it bought bitcoin for. It's unclear if Tesla has sold any of the bitcoin yet.Bitcoin's market value topped $1 trillion for the first timeIves did not explain how he got to that calculation. But according to CoinDesk data, bitcoin's price has gone from an intraday high of $34,793.45 on Jan. 31 to an intraday high of $57,487.03 on Feb. 20, the day Ives published his note.
That's a rise of about 65%, which would put the profit on Tesla's $1.5 billion bitcoin investment at around $975 million. Based on Monday's intraday high of $58,332.36, that profit would be over $1 billion. "While the Bitcoin investment is a side show for Tesla, it's clearly been a good initial investment and a trend we expect could have a ripple impact for other public companies over the next 12 to 18 months," Ives said.is a proponent of digital currencies. He recently said bitcoin is "is simply a less dumb form of liquidity than cash."
And Tesla is down almost $200 per share since January 25th. $TSLA
Woow nice profit in only few days
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So they bought at 30-35k mostly
The taxes will be enormous. Enjoy the audits.
Tax the Rich
Why would Musk even bother selling EV? Just continue to make outlandish tweets on BTC and he'll make trillions!!
Great! They seem to be doing better with crypto’s than selling cars after all
Is that Tesla or elonmusk ?
They sold it?
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Immelt totally fxxked GE. And he has a book. Big Shxt.
Ooof that is a LOT of money 💰
Profit and “unrealized gains” are two different things.
Stock market Investment analyst = profit Everyone else = winnings
Did he sold already or not
Not until u cash out 🙄
how much does cnbc have invested?
Bitcoin going to $5-10million ... mass adoption reaching 1% so far
are you guys dumb, you don't make any profit until you sell !
Hmmm... Tesla buys $1.5B bitcoin at about $35k each. Worth $58k each earlier today. $1.5B * (58/35) = $2.5B. $1 billion in unrealized gains. Am I an analyst now?
So, they sold it?
So Tesla sold their bitcoin? Because it's not a profit until it's actually sold. Oh wait. You're just talking shit as usual. As you were then.
Should the richest man in the world be able to manipulate the bitcion market or any market like this?
Put PSLV on tomorrow's docket...
And yet your network will continue to trash it in order to save your hedge fund friends positions
Nonsense. They don't make anything before they liquidize, and with that amount, they can't.
Is he pumping and dumbing?
Why bother making cars? Without carbon credits 700M loss. Mmmm
First of all, who will jump to buy btc worth 1.5 at 40k? Elon maybe jump way before when btc was not familiar... when you look at the characters who inventented and help to invent btc were mostly belongs to calofornia... oh California!.... reminds me about sillicon valley
Milestonesfoto That elonmusk is a smart cookie 🍪 😊
$GRAT $CBULF will skyrocket tomorrow after his latest announcement !!!
Reminds me of the subprime junk banks used to sell at a huge 'profit'.
Who says? Buttcoin?
looks like he is selling
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Not if you include elonmusk’$ profit for his promotional campaign. TimeAndMoney ☕️😏🦍🇺🇸
Realized or unrealized?
They probably bought BTC at a high price at the time too. Who knew it would near 60K?
Look ahead Apple attention
Not if they have not sold
Considering the fact the Ellison’s advocacy/pump for Bitcoin led to monumental price action ... it’s not much of a surprise.
Its just started......
The world is under attack by unrestricted modern bioweapon from CCP.
Mad genius.
Why are we dumping then
Bitcoin might revolutionise more than money or economics. It could transform the role and nature of government.-- Leon Louw