Tesla: Almost $1B profit on its Bitcoin buy

According to analysts at Wedbush Securities, American Electric vehicle company Tesla has made $1Billion from the investment on Bitcoin in recent time, he insists that Tesla Made more profit from bitcoin than selling their Electric Car. It’s reported that Tesla invested in Bitcoin above $1.5 Billion in the first week of this month. Wedbush Securities is the private investment firm in the United States.

They (Wedbush Securities) have calculated that Tesla made “roughly $1 billion” in the outcome of its investment on Bitcoin which is the amount like  $1.5 Billion. Following this report, it’s stated that “Tesla is on a trajectory to make more from its Bitcoin investments than profits from selling its electric vehicle cars in all of 2020, While the Bitcoin investment is a sideshow 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.” Analysts from Wedbush Securities also mention “We still expect less than 5% of public companies will head down this route until more regulatory goal posts are put in place around the crypto market, which is clearly starting to gain more mainstream adoption in 2021.”

It’s noted that Tesla has officially announced they have invested $1.5 Billion on Bitcoin but it’s still unclear that in what price they have bought Bitcoin, this information hasn’t been disclosed  that’s why  Wedbush Securities has got space to analyze this issue.

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