Press "Enter" to skip to content

Tesla says its investment in bitcoins is worth 2.480 million dollars

Apr 28 (Reuters) – Tesla said Wednesday that the electric car maker’s fair market valuation in bitcoins as of March 31 is $ 2.48 billion, suggesting it could be close to earning $ 1 billion if the proportion of the digital currency was converted to cash.

The world’s top-rated automaker, which said it had bought or received $ 1.5 billion in bitcoin in payment by the end of the first quarter, reiterated in its regular report that it had cut its position in crypto by 10% during the quarter.

Tesla Inc said digital asset sales returns reached $ 272 million, with a “positive hit” of $ 101 million.

The company added that it had posted $ 27 million in depreciation losses on its bitcoin investment in the three months ending in March.

(Report by Subrat Patnaik in Bengaluru. Edited in Spanish by Marion Giraldo)

Read more

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *