Tesla's Bitcoin Bet Pays Off: Investment Surpasses $1 Billion Amid Price Surge [Yahoo! Finance]
Tesla, Inc. (TSLA)
Last tesla, inc. earnings: 4/29 04:11 pm
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Source: Yahoo! Finance
Initially purchased for $1.5 billion in February, Tesla's assets have appreciated, resulting in a $495 million gain as Bitcoin prices rise. Tesla's entry into the Bitcoin market successfully institutionalized the cryptocurrency within the broader blockchain economy. The company became one of the largest institutional investors in Bitcoin after CEO Elon Musk expressed his support for digital assets, which helped fuel Bitcoin's price surge. While Tesla sold some of its Bitcoin holdings in 2021 and 2022, it still retains a significant portion of the cryptocurrency, which has proven to be highly profitable as Bitcoin's value continues to increase. This appreciation boosts Bitcoin's value on Tesla's balance sheet, reinforcing its utility as an inflation hedge. Moreover, Tesla's continued commitment to Bitcoin signals a larger trend of businesses experimenting with digital currency investments. Tesla's early investment not only brings financial benefits but also spurs further institutio
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News
- Dollar Rises With December Fed Cut Now in Doubt: Markets Wrap [Yahoo! Finance]Yahoo! Finance
- Why Musk supports Trump getting rid of EV tax credits [Business Insider]Business Insider
- Tesla and Other EV Stocks Drop on Reports Trump Team Plans To Kill Tax Credit [Yahoo! Finance]Yahoo! Finance
- Why Tesla Stock Was Sliding Today [Yahoo! Finance]Yahoo! Finance
- Trump to Sunset EV Tax Credit: Should Tesla Investors Be Worried? [Yahoo! Finance]Yahoo! Finance
TSLA
Earnings
- 10/23/24 - Beat
TSLA
Sec Filings
- 11/13/24 - Form 4
- 11/13/24 - Form 4
- 11/8/24 - Form 144
- TSLA's page on the SEC website