June 14, 2021

Tesla earned $ 101 million from selling less than 12% of its bitcoins

Tesla earned $ 101 million from selling less than 12% of its bitcoins

For the first quarter of 2021, Tesla Motors sold part of its bitcoins, earning a profit from transactions in the amount of $ 101 million.

In the latest financial report, the automakerpointed out that in the first quarter, it raised $ 272 million from the sale of about 11.4% of its digital assets. Earnings from operations with cryptocurrency amounted to 23% of the company's net profit in the amount of $ 438 million.At the same time, the proceeds from the realized BTC accounted for only 2.6% of the gross income of $ 10.39 billion.

In February, Elon Musk announced the purchase of $ 1.5 billion of bitcoins by Tesla, which served as a powerful impetus for the increase BTC rate. After the sale of part of the cryptocurrency, the company has at least 88.6% of the original reserves at its disposal.

Further, their replenishment can also occur through the sale of electric vehicles for bitcoins, which will not be immediately converted to fiat.

</p>