Tesla Announces Major Profit After Selling Small Portion Of Bitcoin

2021-4-27 02:56

Despite taking a reported $272 million in profit, Tesla still seemingly retains a majority of its original bitcoin stack.

Tesla has sold portions of the bitcoin it held on its balance sheet, according to its latest quarterly earnings report. The auto-tech giant reportedly took in profits of $272 million from the sale of its digital assets, accounting for just a small percentage of its total BTC holdings, given its initial purchase of $1.5 billion.

While the move to sell its bitcoin at a profit is assuredly what many mainstream investors have been expecting, the small portion that was sold suggests that the company believes retaining most of its bitcoin will be beneficial in the future. CEO Elon Musk took to Twitter to clarify that Tesla sold 10% of its BTC holdings to prove the asset’s liquidity and viability as an alternative to cash on its balance sheet.

If Tesla and Musk were simply interested in using bitcoin to get rich quick, the company would have gotten rid of its entire stock of bitcoin. The reality is that Tesla utilized the Number Go Up technology of bitcoin to secure itself a large profit in a short amount of time, while also securing an unfathomable amount of bitcoin for its future. In reality, the offloading of this bitcoin, while astronomical in scope, still leaves Tesla with an extremely large accumulation base.

In his tweet, Musk also noted that he has his own separate stack of bitcoin that remains unsold. On May 15, 2020, he announced publicly that he owns 0.25 BTC, but it’s reasonable to assume that stack has grown given Tesla’s own embrace.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 67945.33 (+0.00%)
Объем 24H $29.596b
Изменеия 24h: -0.63 %, 7d: -4.53 %
Cегодня L: $67658.27 - H: $69768.04
Капитализация $1338.83b Rank 1
Цена в час новости $ 54612.88 (24.41%)

bitcoin profit tesla still seemingly retains stack

Источник: bitcoinmagazine.com

bitcoin profit → Результатов: 126


17 straight days of positive realised profit for Bitcoin, the longest streak in a year

On-chain profit metrics have picked up as the Bitcoin price has risen Net realised profits have been positive for 17 days, the longest streak in a year 74% of the Bitcoin supply is in profit, three months after it dipped below 50% after FTX collapsed and the Bitcoin price fell towards $15,000 Volatility has picked […] The post 17 straight days of positive realised profit for Bitcoin, the longest streak in a year appeared first on CoinJournal.

2023-3-30 20:15


Majority of Bitcoin holders are still in profit, $6,649 could be BTC’s key support level

Despite Bitcoin’s recent bearish condition and low market sentiment, the majority of Bitcoin holders are still in profit, according to data from the crypto analytics platform IntotheBlock. Just over 59 percent of addresses hold Bitcoin bought with an average purchase price below $7,470, putting them “in the money” on unrealized gains even after the cryptocurrency’s […] The post Majority of Bitcoin holders are still in profit, $6,649 could be BTC’s key support level appeared first on CryptoSlate.

2019-10-25 12:30


Австрийская FMA предупредила об опасности «трейдингового сервиса» Bitcoin Profit

9 ноября Комиссия по надзору за финансовым рынком Австрии (FMA) предупредила розничных инвесторов о негативных последствиях использования «трейдингового сервиса» Bitcoin Profit. По словам регулятора, Bitcoin Profit ведёт нелицензированную деятельность.

2018-11-9 17:26


China's Central Bank Wants to Put the Damper Airdrops: Report

The People's Bank of China (PBoC), China's central bank, has its eyes on cryptocurrency companies that run airdrop campaigns in the country. In its most recent financial stability report for 2018, which was published on Friday, November 3, 2018, the bank said there has been a surge in the number of "disguised" Initial Coin Offerings (ICO), including the free distribution of crypto tokens through airdrops, despite its effort to clamp down on their activities.

2018-11-5 22:04


China's Central Bank Wants to Put the Damper on Airdrops: Report

The People's Bank of China (PBoC), China's central bank, has its eyes on cryptocurrency companies that run airdrop campaigns in the country. In its most recent financial stability report for 2018, which was published on Friday, November 3, 2018, the bank said there has been a surge in the number of "disguised" Initial Coin Offerings (ICO), including the free distribution of crypto tokens through airdrops, despite its effort to clamp down on their activities.

2018-11-7 22:04


Фото:

Trade War Between China and USA Affects GPU Tariffs, Cryptocurrency Mining to be Affected

President Trump’s latest tariffs on Chinese goods could lead to an increase of graphics cards from both AMD and NVIDIA in the following months, reported CNBC on September 27, 2018.   In a competitive mining scene where profit margins are slim, even the slightest increase in costs could mean the difference from being in the black and being in the red.

2018-9-30 18:00


Bitcoin is 300 Times Cheaper Than Wire Transfers, Banks Take 83% Profit

Since 2017, so-called “experts” in the finance sector have criticized Bitcoin for being too expensive. Yet, banks are pocketing 83 percent profit on every wire transfer. According to Bank of America’s official data, the $302 billion bank charges $30 for outbound domestic wire transfer and $35 for outbound international wire sent in foreign currency.

2018-9-19 16:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Not Part of the Raging Tech Industry? XERA Pro Empowers Everyone

The tech industry can feel like a closed club, filled with jargon and seemingly impenetrable concepts. But what if you don’t have a computer science degree or years of coding experience? Does that mean you’re shut out of the exciting world of blockchain technology? Absolutely not.