Re: Tesla make 1 billion profits from it Bitcoin holding
As Bitcoin price relies on around $58,000 investors are already recording their profits and one among them is Tesla, a company own and operated by Elon Musk a popular cryptocurrency whale. The company bought 43,200 Bitcoins sometime in February 2021 have yielded a 65% that is 1 billion dollars profits at the present Bitcoin price.
Credit: https://cointelegraph.com/news/elon-musk-s-tesla-is-already-1-billion-in-profit-from-holding-bitcoin
A billion of UNREALIZED PROFITS. Credit: https://cointelegraph.com/news/elon-musk-s-tesla-is-already-1-billion-in-profit-from-holding-bitcoin
At least Cointelegraph specified that these are unrealized profits that Tesla got since they aren't selling their Bitcoins at this moment and right now, they have no intentions of selling it.
I'm thinking if what will be the effect if Tesla said to the public that "It is a hard decision but we will sell the Bitcoins that we are holding for the betterment of the company"
. Not exactly the same but you get the point. Maybe it will have a huge effect into the investors themselves and possible negative. It might also create a more selling pressure thus, causing the price of Bitcoin to go even lower. This might not happen though and the opposite might happen as well. We don't know but I'm curious with it.