Tesla Is Up $1 Billion on Its Bitcoin Investment

Tesla Is Up $1 Billion on Its Bitcoin Investment
фото показано с : futurism.com

2021-10-17 21:39

Bitcoin Boom

In February, Tesla bought $1.5 billion worth of bitcoin as an investment and announced that it would accept the digital currency as payment for cars.

That investment seems to be paying off — at least as the market stands right now. Bitcoin has soared to new heights, crossing the $60,000 threshold, making Tesla’s treasure chest of 42,902 Bitcoin worth $2.5 billion.

That means Tesla is up $1 billion in its Bitcoin investment, Insider reports — an impressive vindication, at least for now, of the carmaker’s decision to go big on cryptocurrency.

Ups and Downs

The value of Bitcoin has been on a real rollercoaster throughout the year, and that’s in large part due to Elon Musk’s flip-flopping on his stance on the currency. In fact, Tesla was also up $1 billion back in February, according to estimates at the time.

In one puzzling detour, in a May announcement on Twitter Musk cited the environmental devastation associated with Bitcoin mining in his decision to suspend vehicle purchases using the digital currency.

The move prompted a steep dropoff in the value of Bitcoin, enraging Musk’s loyal fanbase.

More recently, China’s crackdown on cryptocurrency mining and transactions caused Bitcoin to fall again over the summer.

This month, though, the digital currency started rallying, soaring ever-closer to record highs it set back in April. Why remains a mystery, but the resurgence is likely the result of more and more financial institutions becoming interested around the world.

As has always been the case, Tesla’s Bitcoin riches may only be fleeting. Cryptocurrencies are infamously volatile and the next crater could only be around the corner.

READ MORE: Elon Musk’s Tesla is up $1 billion on its $1.5 billion bitcoin investment as the cryptocurrency soars [Insider]

More on Bitcoin: As Its Price Spikes, JPMorgan CEO Says Bitcoin Is “Worthless”

The post Tesla Is Up $1 Billion on Its Bitcoin Investment appeared first on Futurism.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Intelligent Investment Chain (IIC) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: -79.71 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0001186 (-100%)

investment bitcoin billion tesla digital currency seems

Источник: futurism.com

investment bitcoin → Результатов: 126


Фото:

$402 Billion Investment Fund Set for Bitcoin (BTC), Ether (ETH) Exposure

New York-based multi-billion dollar private investment management firm Neuberger Berman, will be offering exposure to cryptocurrencies such as bitcoin and ether.  Neuberger Berman Targets Bitcoin Derivatives The investment giant made a filing with the US Securities and Exchange Commission  (SEC) on Wednesday (August 11, 2021) for its Commodity Strategy Fund to gain indirect exposure toRead More

2021-8-12 15:00


Фото:

Why Billion-Dollar Investment Firm Rothschild Investment Corp Is Accelerating Exposure To Bitcoin

According to new records, Rothschild Investment Corp is pushing hard with bitcoin involvement, having quadrupled its exposure to the digital asset since April. Bitcoin has failed to recover to highs seen earlier this year following a significantly bearish move from mid-May and was below $33,000 at the time of writing. A number of major companies, […]

2021-7-22 22:21


Фото:

Grayscale Bitcoin Investment Trust at Its Lowest Point

Grayscale Bitcoin Investment Trust (GBTC) has its assets hitting their lowest point since the all-time highs at the end of last year’s price rally.   GBTC’s Assets at Their Lowest Grayscale Bitcoin Investment Trust’s shares are down 80 percent since the world’s first and foremost cryptocurrency hit its all-time high at the end of last year’s price rally, Bloomberg reports.

2018-10-4 22:00


Фото:

Crypto Trading Head: Cryptocurrency Is ‘Turning the Corner From Wild West’

A new voice from US big finance has added his weight to the increasing evidence institutional investors are corning the newly-stabilized cryptocurrency market. Cho: ‘Professionalization Is Happening’ Speaking to Bloomberg on October 1st, Bobby Cho, global head of trading at Cumberland, the crypto division of trading and investment firm DRW Holdings, said the market was “turning the corner” from its “Wild West” early years.

2018-10-2 08:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

United States Crypto Miners Are Now Using as Much Power as Houston

Powers Combined Even if the crypto market isn't exactly growing in terms of profit, miners it are certainly increasing their energy consumption. The New York Times reported this week that just seven of the biggest Bitcoin mining companies are now using nearly as much electricity as all the homes in Houston combined, meaning that all crypto mining […]

Religious Zealots Think Bitcoin Was Created by God

We are very sorry to inform you that the Bitcoin bros are so not OK that some of them have begun believing that the cryptocurrency was sent down by the Christian God himself. "This is the genius of God," Tomer Strolight, a former nonbeliever who got into Bitcoin and subsequently got baptized because of it, […]

Bitcoin Just Had Its Worst Month in Crypto's Entire History

Free Fallin' Blockchain woes continue. Bitcoin lost 38 percent of its value in June alone, making this past month the worst in crypto's 12 year history, CNBC reports. Meanwhile, Ethereum's coin (ETH) rang in at an astonishing 47 percent value loss, and industry leaders crumble across the board — major crypto hedge fund Three Arrows […]

New York State May Ban Any Crypto Mining Powered by Fossil Fuels

Tick Tick Boom For weeks now, a bill that would ban all crypto mining that uses fossil fuels has languished on the desk of New York's governor, which begs the question — what now? This dramatic story, as reported by The Daily Beast, has gone mostly underreported this week as both the stock market and the […]

Bill Gates Ruthlessly Mocks NFTs as Crypto Market Collapses

Fool Me Once Bill Gates really, really, really hates cryptocurrency. The billionaire Microsoft founder has not been shy about his stance on digital coins in the past, arguing with Dogecoin-pushing rival Elon Musk over the currencies' viability and calling out Bitcoin mining operations for their destructive environmental impact. Now, in the wake of the sudden […]