Tesla sold $ 272 million of existing Bitcoin assets and made a profit of around $ 100 million. The firm’s net profit reached 438 million dollars.
Tesla, which literally fired the market by buying 1.5 billion worth of Bitcoin at the beginning of the year, has now started to take profits. The firm disposed of a relatively small portion of its BTC assets in the first quarter of the year.
Bitcoin selling at Tesla
It is estimated that Tesla bought Bitcoin when it was around 30 thousand dollars . This means about 50 thousand Bitcoins . Bitcoin assets make up 7.7 percent of Tesla’s cash position.
Although the exact date is not given, Bitcoin sales of $ 272 million were made in the first 3 months of the year. It is stated that a profit of around 100 million dollars has been made from this sale. Tesla has already taken a good point because it has been constantly rising afterwards.
During this period, the Model S and Model X changes had a slightly negative impact on the firm’s revenues, but revenues increased to $ 10.39 billion in total. Net profit reached its historical peak with 438 million dollars. The company plans to produce 750 thousand vehicles for this year.