Tesla’s first quarter earnings report released on Monday showed that the company sold off 10 per cent of its Bitcoin holdings. It made $272m in proceeds and $101m in profit from Bitcoin.
The car maker made more money from Bitcoin than car sales. Tesla’s profits hit $438m with nearly a quarter of that earning coming in Bitcoin sale.- "punch"
Tesla can be a role model for other big companies to invest in Bitcoin, because Tesla proved that investing in Bitcoin is very profitable.
I am sure that the earnings report released by Tesla will certainly attract many other companies. I believe in the near future there will be
several other companies following in Tesla's footsteps, so we will see the price of Bitcoin can jump very high if there are indeed several
other large companies investing in Bitcoin.
Tesla is a company that is openly investing in bitcoin. because this company many other companies are considering taking part in bitcoin. Tesla is also living proof that institutional investors are so welcome, they can power a bigger pump.