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Bitcoin gamble pays off for Tesla after making $130 million from the cryptocurrency – NEWS.com.au
Bitcoin gamble pays off for Tesla after making $130 million from the cryptocurrency
Teslas foray into the cryptocurrency market made it quite a bit of coin, the company announced.The electric carmaker’s first-quarter earnings released on Monday revealed that it sold some of the $US1.5 billion ($A1.9 billion) worth of bitcoin that it purchased in February, giving the company a $101 million ($A130 million) bump in profit. That’s no small lump of cash, considering it makes up nearly one-quarter of the company’s $US438 million ($A564 million) in profit, Tesla’s biggest ever.
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