Tesla books huge profit from Bitcoin sale in Q1

125 Views

  • Thanks! Share it with your friends!

    You disliked this video. Thanks for the feedback!

bob.yaffee
Published
Tesla Motors sold a portion of its Bitcoin ( BTC ) holdings in the first quarter of 2021, generating net proceeds of $272 million, the electric vehicle maker reported Monday. In a 30-page slide deck accompanying its quarterly financial results, Tesla noted a $101 million "positive impact" as a result of its Bitcoin sale:In its quarterly cash flow statement, the company said "proceeds from sales of digital assets" were valued at $272 million. The electric vehicle maker made headlines in February after revealing a strategic acquisition of $1.5 billion worth of BTC . At the time, that amounted to 7.7% of Tesla's gross cash position . The company also announced that it will accept Bitcoin as payment for its cars without necessarily converting it into fiat currency. Beyond its cryptocurrency activity, Tesla posted net income of $438 million during the quarter, marking a new all-time high. Per-share earnings were 93 cents on revenue of $10.39 billion. The Elon Musk-led firm also said that it expects vehicle delivery growth to exceed 50% this year, which implies minimum deliveries of roughly 750,000 vehicles for 2021.


All data is taken from the source: https://cointelegraph.com/
Article Link: https://cointelegraph.com/news/tesla-books-huge-profit-from-bitcoin-sale-in-q1


#tesla #vitalikbuterinnetworth #bitcoinatmnearme #cryptocurrencynews #cryptocurrencyexchange #cryptonews #cryptoexchange
Category
Crypto Investing
Tags
Be the first to comment