Tesla Has Made $600 Million From Bitcoin Investing?! WHAT?!

Tesla

Tesla is investing over $600 million from an investment in Bitcoin that is truly starting to pay off. For instance, the automaker has made it known that their investment policy will stop wasting time and start adding cryptocurrency and gold to their holding. And obviously they have been able to acuumulate about $1.5 billion dollars in bitcoin investments. How lucky is that of Elon Musk?

The electric vehicle company has been able to update their investment policy in order to provide more flexibility to diversify and max out their returns on cash. It isn’t quite needed to keep operating liquidity adequate. Also part of the policy, the whole idea of messing around with bitcoin? Yeah it was barely passable by the Audit Committee of their Board of Directors. Not the most enthusiastic about it, as it turns out.

They’re likely to acquire and hold digital assets within the long-term. Tesla has not yet disclosed any sort of number of bitcoins, let alone the average purchase price. But, it stands to reason that the bitcoins are averaging around $35,000 in the month of January alone.

Therefore, Tesla should already be able to have 43,000 bitcoins. Furthermore, they have indeed been making money. In certain areas, the surge of the price has gone up considerably.

Bottom Line? Tesla Is Banking On Bitcoin

Is this a smart move on Elon Musk? Maybe so. A stamp of approval on bitcoin is enough to send value surges through the roof. Though, the move itself is not capable enough to bring EV fans any joy. Bitcoins should encourage more investments by Tesla in renewable energy.

Cryptocurrency itself relies on a dedicated few but proud to process transactions within a decentralized network of computers, requiring almost too old power. So again, is this about saving the Earth, or saving a few bucks off Musk’s back?

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