CNBC reported on the 26th (local time) that Tesla, which launched the cryptocurrency (virtual currency) market by investing in bitcoin and allowing electric car payments, sold 272 million dollars (301.8 billion won) of bitcoin in the first quarter. .
As a result, it was found that Tesla made a profit of about $111 million (120 billion won). Tesla sold $272 million of bitcoin in the first quarter, earning a market margin of $111 million.
Tesla said this in its earnings release. Tesla announced that its earnings per share recorded 93 cents in its earnings release, which lightly surpassed the Wall Street estimate of 79 cents, breaking an all-time high.
Sales surged 74% year-on-year to $10.39 billion, which also exceeded the previously expected $10.29 billion.
In addition to the sales of electric vehicles, the results also reflect one-off factors such as sales of $58 million from regulatory credit sales and a market margin of $111 million from Bitcoin.
Regulatory credits are a kind of point given by the government to companies that have contributed to lowering environmental pollution. Electric car company Tesla can make a profit by selling it to other companies.
Tesla said that bitcoin sales had a “positive impact of $111 million” on profits, and that the bitcoin sales price cut operating expenses.
Tesla played a crucial role in launching the cryptocurrency market by announcing its investment of $1.5 billion worth of bitcoin in February, and even allowing the purchase of electric cars with bitcoin.
However, as a result of the announcement of the financial statements that day, it was revealed that Tesla realized profits by selling bitcoin quickly when it peaked.
CNBC pointed out that “Tesla’s bitcoin speculation helped increase the company’s net profits,” he said.
As it became known that Tesla had sold some of its bitcoin, CNBC reported that Twitter and other social media were criticizing Elon Musk, Tesla’s CEO, who fueled its bitcoin investment.
