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Tesla says bitcoin investment worth $2.48 billion

Published 04/28/2021, 06:43 AM
Updated 04/28/2021, 08:20 AM
© Reuters. FILE PHOTO: A Tesla supercharger is shown at a charging station in Santa Clarita, California

© Reuters. FILE PHOTO: A Tesla supercharger is shown at a charging station in Santa Clarita, California

(Reuters) -Tesla Inc said on Wednesday that the fair market value of bitcoin the electric carmaker held as of March 31 was $2.48 billion, suggesting it could stand to make around $1 billion dollars out of the investment were it to cash in the digital currency.

The world's most valuable automaker, which said it had bought or received $1.5 billion in bitcoin by the end of the first quarter, reiterated in its regular report it had trimmed its position by 10% during the quarter.

© Reuters. FILE PHOTO: A Tesla supercharger is shown at a charging station in Santa Clarita, California

Tesla (NASDAQ:TSLA) said proceeds from sales of digital assets amounted to $272 million with a $101 million "positive impact".

The company added that it recorded $27 million of impairment losses on its bitcoin investment in the three months ended March.(https://

Latest comments

Yeah, we know. Tesla bought 45,000 BTC in January at $37,000. #MATH
So Tesla itself performed worse than expected, but luckily they invested in something that is actually gaining value lol
Worse? Revenues increased 74% YoY.
Tony go back to school. You clearly need lessons in math. If you can't go back at least watch the latest video posted on youtube under "Now you know". You don't have a clue.
Pump and dump. Where is the SEC!??
wait until musky pulls his investment........the ****will drop out of it..
They arent pulling their investment, they are keep BTC for liquidity and infltion hedge.
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