Analyst: Tesla “earned” $ 1 billion on Bitcoin growth

Analyst Tesla earned $ 1 billion on Bitcoin growth

Wedbush Securities analyst Daniel Ives believes Tesla has “earned” about $ 1 billion from its Bitcoin investment.

Tesla is on a path that will allow it to earn more from its Bitcoin investment than it does from selling its electric vehicles throughout 2020.

Unfortunately, it is quite difficult to calculate how many bitcoins Tesla has. The company invested $ 1.5 billion in cryptocurrency in January at prices ranging from $ 29,000 to $ 37,000. Thus, the automaker has from 40 to 51 thousand bitcoins.

If we take the average figure of 45.5 thousand “coins”, then the company, if it sold the asset at a price of about $ 58,000, would have $ 2.639 billion. Now the bitcoin price has corrected to ~ $ 51 thousand.

The analyst believes that Tesla’s example will encourage other large companies to invest in cryptocurrency, despite the fact that it is a very risky asset.

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