Elon Musk Makes $1 Billion in Bitcoin… More than Tesla’s net profit


Tesla, led by Elon Musk, has already earned $1 billion from bitcoin investments, which is more than last year’s total car sales, CBS Market Watch reported on the 21st.

Tesla announced on the 8th that it has purchased $1.5 billion worth of Bitcoin. After that, Bitcoin continued to rally.

In particular, Bitcoin surpassed 54,000 dollars per coin on the 19th, and its market cap exceeded 1 trillion dollars. Bitcoin continued to rally afterwards, hitting the 57,000 dollar level as of the 21st. As a result, Bitcoin rose 90% only in 2021.

As a result, CBS Market Watch estimates that Tesla would have earned a valuation gain of $1 billion in less than a month.

This is more than Tesla’s net profit from car sales last year. Last year, Tesla made a net profit of $721 million from sales of electric vehicles.