$XRP
Elon Musk's company earned $600 million in profit from its investments in Bitcoin. This is stated in Tesla's (NASDAQ:TSLA) report for the fourth quarter of 2024.
The electric vehicle manufacturer began investing in Bitcoin in January 2021. At that time, Tesla purchased the leading cryptocurrency for $1.5 billion, facing both support for its decision and harsh criticism from the investment community.
Despite having sold nearly 70% of its Bitcoin assets since then, it still holds 9720 BTC worth approximately $946 million. This makes Tesla the sixth largest corporate holder of the flagship cryptocurrency.
Elon Musk explained Tesla's sale of Bitcoin assets as a desire to demonstrate the asset's liquidity and strengthen the company's balance sheet during periods of uncertainty. However, by doing so, the electric car manufacturer missed out on billions of dollars in profit.
Elon Musk's company earned $600 million in profit from its investments in Bitcoin. This is stated in Tesla's (NASDAQ:TSLA) report for the fourth quarter of 2024.
The electric vehicle manufacturer began investing in Bitcoin in January 2021. At that time, Tesla purchased the leading cryptocurrency for $1.5 billion, facing both support for its decision and harsh criticism from the investment community.
Despite having sold nearly 70% of its Bitcoin assets since then, it still holds 9720 BTC worth approximately $946 million. This makes Tesla the sixth largest corporate holder of the flagship cryptocurrency.
Elon Musk explained Tesla's sale of Bitcoin assets as a desire to demonstrate the asset's liquidity and strengthen the company's balance sheet during periods of uncertainty. However, by doing so, the electric car manufacturer missed out on billions of dollars in profit.