{"id":36886,"date":"2021-02-23T12:43:59","date_gmt":"2021-02-23T10:43:59","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=36886"},"modified":"2025-08-29T08:38:06","modified_gmt":"2025-08-29T05:38:06","slug":"bitcoin-investment-proved-more-profitable-for-tesla-than-ev-sales","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-investment-proved-more-profitable-for-tesla-than-ev-sales\/","title":{"rendered":"Bitcoin investment proved more profitable for Tesla than EV sales"},"content":{"rendered":"<p>Tesla&#8217;s unrealized profit from a <a href=\"https:\/\/u1f987.com\/en\/news\/elon-musks-tesla-invested-1-5-billion-in-bitcoin-the-assets-price-rose-to-44800\">$1.5 billion in bitcoin<\/a> investment proved higher than the profit from selling electric vehicles in 2020, according to Wedbush Securities.<\/p>\n<p><!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">There\u2019s no doubt that <a href=\"https:\/\/twitter.com\/search?q=%24TSLA&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$TSLA<\/a> has already made a billion dollars on paper due to the recent <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> investment. Equity Research Analyst, <a href=\"https:\/\/twitter.com\/DivesTech?ref_src=twsrc%5Etfw\">@DivesTech<\/a> shared this news on <a href=\"https:\/\/twitter.com\/hashtag\/Tesla?src=hash&#038;ref_src=twsrc%5Etfw\">#Tesla<\/a> and more with <a href=\"https:\/\/twitter.com\/SquawkCNBC?ref_src=twsrc%5Etfw\">@SquawkCNBC<\/a>. <a href=\"https:\/\/t.co\/qPx00dnplt\">https:\/\/t.co\/qPx00dnplt<\/a><\/p>\n<p>\u2014 Wedbush Securities (@Wedbush) <a href=\"https:\/\/twitter.com\/Wedbush\/status\/1364002096836530181?ref_src=twsrc%5Etfw\">February 23, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In CNBC&#8217;s interview, analyst Daniel Ives said that Tesla&#8217;s &#8216;paper&#8217; profit from investments in digital gold had topped $1 billion. He declined to disclose the basis of his calculations and suggested that other public companies may follow the automaker&#8217;s example.<\/p>\n<blockquote>\n<p>&#8220;Buying Bitcoin is a side activity for Tesla. Nevertheless, the initial investment clearly turned out to be successful,&#8221; said Ives.<\/p>\n<\/blockquote>\n<p>According to CoinGecko, on January 31 Bitcoin stood at about $35,000. On Sunday, February 21, the price of the leading cryptocurrency reached $58,000. A roughly 65% rise would have brought Tesla about $975 million. For comparison: in 2020 the automaker earned $721 million in profit from EV sales.<\/p>\n<p>As of writing, Tesla held 48,000 BTC worth $2.58 billion, according to <a href=\"https:\/\/bitcointreasuries.org\/\" target=\"_blank\" rel=\"nofollow noopener\">Bitcoin Treasuries<\/a>.<\/p>\n<div id=\"attachment_125705\" style=\"width: 994px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-125705\" class=\"size-full wp-image-125705\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Screenshot-28.png\" alt=\"\u0418\u043d\u0432\u0435\u0441\u0442\u0438\u0446\u0438\u0438 \u0432 \u0431\u0438\u0442\u043a\u043e\u0438\u043d \u043e\u043a\u0430\u0437\u0430\u043b\u0438\u0441\u044c \u0434\u043b\u044f Tesla \u0432\u044b\u0433\u043e\u0434\u043d\u0435\u0435 \u043f\u0440\u043e\u0434\u0430\u0436\u0438 \u044d\u043b\u0435\u043a\u0442\u0440\u043e\u043c\u043e\u0431\u0430\u0440\u043e\u0432\" width=\"984\" height=\"115\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Screenshot-28.png 984w, https:\/\/u1f987.com\/wp-content\/uploads\/Screenshot-28-300x35.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Screenshot-28-768x90.png 768w\" sizes=\"auto, (max-width: 984px) 100vw, 984px\" \/><\/p>\n<p id=\"caption-attachment-125705\" class=\"wp-caption-text\">Data: Bitcoin Treasuries.<\/p>\n<\/div>\n<p>Following reports of the Bitcoin purchase, the automaker&#8217;s shares moved in the opposite direction to the price of the first cryptocurrency.<\/p>\n<p><script async src=\"https:\/\/telegram.org\/js\/telegram-widget.js?14\" data-telegram-post=\"forklog\/17701\" data-width=\"100%\"><\/script><\/p>\n<p>On February 9, former Goldman Sachs investment director Gary Black said that <a href=\"https:\/\/u1f987.com\/en\/news\/former-goldman-sachs-top-executive-sells-tesla-shares-after-bitcoin-investment\">closed a long position<\/a> in Tesla&#8217;s securities.<\/p>\n<p>On February 20, Bitcoin&#8217;s market capitalization <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-price-breaks-above-the-57000-level\">reached $1.068 trillion<\/a>. According to <a href=\"https:\/\/www.theblockcrypto.com\/linked\/95583\/bitcoin-gold-market-cap-new-high\" target=\"_blank\" rel=\"nofollow noopener\">The Block<\/a>, this figure accounted for just over 10% of gold&#8217;s market capitalization.<\/p>\n<div id=\"attachment_125699\" style=\"width: 1034px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-125699\" class=\"size-large wp-image-125699\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/bitcoin-vs-gold-value-ratio-1024x538.png\" alt=\"\u0418\u043d\u0432\u0435\u0441\u0442\u0438\u0446\u0438\u0438 \u0432 \u0431\u0438\u0442\u043a\u043e\u0438\u043d \u043e\u043a\u0430\u0437\u0430\u043b\u0438\u0441\u044c \u0434\u043b\u044f Tesla \u0432\u044b\u0433\u043e\u0434\u043d\u0435\u0435 \u043f\u0440\u043e\u0434\u0430\u0436\u0438 \u044d\u043b\u0435\u043a\u0442\u0440\u043e\u043c\u043e\u0431\u0430\u0440\u043e\u0432\" width=\"1024\" height=\"538\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/bitcoin-vs-gold-value-ratio-1024x538.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/bitcoin-vs-gold-value-ratio-300x158.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/bitcoin-vs-gold-value-ratio-768x403.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/bitcoin-vs-gold-value-ratio.png 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p id=\"caption-attachment-125699\" class=\"wp-caption-text\">Data: The Block.<\/p>\n<\/div>\n<p>On Monday, February 22, the price briefly fell to $47,500. The one-hour long-position liquidations in Bitcoin futures amounted to $410 million.<\/p>\n<p>As of writing, digital gold is trading around $46,800. Over the past 24 hours Bitcoin declined about 15.9%, according to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/all\" target=\"_blank\" rel=\"nofollow noopener\">CoinGecko<\/a>. The asset&#8217;s market capitalization stands at $866.2 billion.<\/p>\n<div id=\"attachment_125701\" style=\"width: 950px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-125701\" class=\"size-full wp-image-125701\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/3-228.png\" alt=\"\u0418\u043d\u0432\u0435\u0441\u0442\u0438\u0446\u0438\u0438 \u0432 \u0431\u0438\u0442\u043a\u043e\u0438\u043d \u043e\u043a\u0430\u0437\u0430\u043b\u0438\u0441\u044c \u0434\u043b\u044f Tesla \u0432\u044b\u0433\u043e\u0434\u043d\u0435\u0435 \u043f\u0440\u043e\u0434\u0430\u0436\u0438 \u044d\u043b\u0435\u043a\u0442\u0440\u043e\u043c\u043e\u0431\u0430\u0440\u043e\u0432\" width=\"940\" height=\"690\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/3-228.png 940w, https:\/\/u1f987.com\/wp-content\/uploads\/3-228-300x220.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/3-228-768x564.png 768w\" sizes=\"auto, (max-width: 940px) 100vw, 940px\" \/><\/p>\n<p id=\"caption-attachment-125701\" class=\"wp-caption-text\">Four-hour BTC\/USD chart from Bitstamp on TradingView.<\/p>\n<\/div>\n<p>Earlier, Elon Musk described Tesla&#8217;s investment in the leading cryptocurrency as &#8216;<a href=\"https:\/\/u1f987.com\/en\/news\/elon-musk-calls-teslas-bitcoin-investment-quite-risky\">quite risky<\/a>&#8216;.<\/p>\n<p>Subscribe to ForkLog&#8217;s news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tesla&#8217;s unrealized profit from a $1.5 billion bitcoin investment was higher than the profit from selling electric vehicles in 2020, according to Wedbush Securities.<\/p>\n","protected":false},"author":1,"featured_media":36887,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1217,1319],"class_list":["post-36886","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-elon-musk","tag-tesla"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36886","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=36886"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36886\/revisions"}],"predecessor-version":[{"id":36888,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36886\/revisions\/36888"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/36887"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=36886"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=36886"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=36886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}