Buy a Bitcoin, analysts say Elon Musk is more profitable than selling an electric car!

byPayPast Inc, Crop -5:41 AM 0

Recently, billionaire Elon Musk caused a stir on the Internet, with the tech tycoon spending $ 1.5 billion on electric car maker Tesla to buy Bitcoin digital currency.

Buy a Bitcoin, analysts say Elon Musk is more

With a $ 1.5 billion investment in Bitcoin, Elon Musk has rocked the digital money market, pushing Bitcoin to more than $ 56,000 a share to date.

According to Daniel Ives, an analyst at Wedbush Securities, Elon Musk's Tesla recently made a profit of about $ 1 billion in Bitcoin investments.

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The analyst also revealed that in light of Tesla's trend, the return on investment in Bitcoin will be greater than the profit that Tesla earned from all-electric car sales in 2020.

Earlier this month, Tesla released a document to the US Securities and Exchange Commission stating that it had invested $ 1.5 billion to buy Bitcoin as a flexible and diversified investment destination for 2021.

According to CoinDesk data, the value of Bitcoin reached $ 34,793 as of January 31, 2021, and as of February 20, Bitcoin has reached more than $ 57,000. It increased by 65%, so that Tesla's investment of $ 1.5 billion could bring Tesla a profit of about $ 975 million from Bitcoin.

Elon Musk will not only invest in digital money

It should be noted that in 2021, Elon Musk will not only invest in digital money. In a recent letter sent to the Securities and Exchange Commission by Elon Musk's Tesla, Tesla wrote in January 2021 that it had changed its investment policy by starting to invest in other types of assets. Many for flexibility in investing.

In this sense, Elon Musk looks to the future, believing that there will be an asset other than the US dollar, which Tesla seized in the new year. One of the many types of assets that Tesla invests in is gold, in which Tesla invests in kilo gold and gold exchange-traded funds.

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