SA: Tesla racks up $1bn profit on Bitcoin and counting

By LoadstarEditorial

21/02/2021

SEEKING ALPHA reports:

– Electric vehicle automaker Tesla (NASDAQ:TSLA) has made roughly $1B of digital profit on Bitcoin (BTC-USD) over the last month, estimates Wedbush Securities.

– Dan Ives puts that windfall in perspective by noting that Tesla is on a trajectory to make more from its Bitcoin investments than profits from selling its EV cars in all of 2020.

– Ives and team think other public companies will follow Tesla’s lead on the speculative diversification play.

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