Terrible! Elon Musk's Tesla Already Cuan Rp 14 Trillion in Bitcoin
Elon Musk's electric car manufacturer Tesla Inc is predicted to have scored US$1 billion or equivalent to Rp 14 trillion of investment in Bitcoin in almost 2 months of investment. This is a calculation from Daniel Ives, an analyst from Wdbush Securities submitted to the company's clients
According to Daniel Ives, Tesla is even "on track to generate more revenue from investing in Bitcoin than electric car sales throughout 2020."
The purchase was made in January 2021 without disclosing when and at what price Tesla bought Bitcoin.
The reason is that bitcoin purchases are due to more flexibility to diversify and maximize cash returns. Tesla also plans to allow the purchase of electric cars using this popular cryptocurrency.
Since the investment, the price of Bitcoin has continued to record highs throughout history. Currently the highest price of Bitcoin reaches US$57,000 per coin achieved in the last week.
If coindesk follows on January 31, the price of Bitcoin US$34,793.45 per coin while on February 20, the price of Bitcoin reaches US$57,487.03. This means that there is a 65% increase in the price of Bitcoin. With a US$1.5 billion investment, Tesla's profit has already touched US$975 million.
"While Bitcoin investment is Tesla's side action, it is clearly a good investment start and could have a major impact on other public companies in the next 12-18 months," Daniel Ives wrote.